jondecker76 - I don't think anybody explicitly answered your question about how the switch knows which is providing DHCP services. The answer is, it doesn't and doesn't need to - all the switch does is look at layer 2 addresses (ethernet MAC addresses) remembers which addresses are outside each port that is connected to something. Then as ethernet frames come in, the destination MAC address on the frame gets looked at by the switch - if it can find an entry in its CAM table matching that address, it switches the frame to the port that it saw that address out of. That is the long and the short of switching! And Thom is right, if the core/backplane of your switch is not non-blocking running at at least 8Gbps (ie 1Gbps per port) then if you have a lot of data flowing, this will be a throttle point, but probably not a big deal unless you are running lots of HDTV sessions at the same time, or you are running any VoIP phones - then you will probably need a switch that can do QoS as well.
When a DHCP client asks for an IP address lease, it broadcasts on the ethernet broadcast address - all switches an NICs recognise that address. NICs assume that they should ingest and process any ethernet frame with that address as if it were directed at them in a normal unicast frame. Switches do not look up this address in their CAM table, they just switch the frame out of ALL ports. Thus your switch doesn't need to know where the DHCP sever is, the client broadcasts, the switch sends this to all ports, and the DHCP server hears the frame, then unicasts the response back using the source MAC address that the client broadcast from.
Col.