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It's a classic case of "If it sounds too good to be true, it usually is"

Here is a description of why you most likely don't want to use MacVTap yet:

http://libvirt.org/formatnetwork.html#examplesDirect (short version. Your KVM host cannot see its guest machines on the network)

A nice overview of MacVTap (without boring details about not doing what you would expect):

http://virt.kernelnewbies.org/MacVTap

Work is being done (or at least it is planned) to make MacVTap work the way you would expect it to. Maybe it will be in Fedora 17. But until then, I suggest you just stick with regular bridged networking.