Have you tried adding this line to your ifcfg-eth0?
Also verify you don't have any saved copies of ifcfg-eth0 in /etc/sysconfig/network-scripts (e.g. ifcfg-eth0.old, .v01, .20100928 etc...). The network start script keys on files starting with "ifcfg-" so will try to start the NIC at the HWADDRESS in those files which is very likely to be the same one you have in ifcfg-eth0.
FYI: You CAN save copies in network-scripts by prepending rather than appending - e.g. old-ifcfg-eth0, v01-ifcfg-eth0, 20100928-ifcfg-eth0 etc... The important thing is that the copies don't start with "ifcfg-".