First look in /var/log/libvirt/qemu/<domainname>.log and see which qemu binary is being executed by libvirt - it may not be the one you've built.
It looks correct... I pulled out the driver tag from my config and fired it up. Here is the full command line for it:
LC_ALL=C PATH=/sbin:/usr/sbin:/bin:/usr/bin:/usr/local/sbin:/usr/local/bin QEMU_AUDIO_DRV=none /usr/local/bin/qemu-system-x86_64 -S -M pc-0.14 -enable-kvm -m 4096 -smp 7,sockets=7,cores=1,threads=1 -name web101 -uuid bda63821-ccc4-6607-67c0-db6712526cbd -nodefconfig -nodefaults -chardev socket,id=charmonitor,path=/var/lib/libvirt/qemu/web101.monitor,server,nowait -mon chardev=charmonitor,id=monitor,mode=readline -rtc base=utc -boot c -drive file=/var/lib/libvirt/images/web101.img,if=none,id=drive-virtio-disk0,format=raw,cache=writethrough -device virtio-blk-pci,bus=pci.0,addr=0x5,drive=drive-virtio-disk0,id=virtio-disk0 -drive file=/home/httpd.img,if=none,id=drive-virtio-disk1,format=raw,cache=writethrough -device virtio-blk-pci,bus=pci.0,addr=0x7,drive=drive-virtio-disk1,id=virtio-disk1 -drive if=none,media=cdrom,id=drive-ide0-1-0,readonly=on,format=raw -device ide-drive,bus=ide.1,unit=0,drive=drive-ide0-1-0,id=ide0-1-0 -fsdev local,security_model=passthrough,id=fsdev-fs0,path=/home/httpd -device virtio-9p-pci,id=fs0,fsdev=fsdev-fs0,mount_tag=/home/httpd,bus=pci.0,addr=0x8 -netdev tap,fd=15,id=hostnet0 -device virtio-net-pci,netdev=hostnet0,id=net0,mac=52:54:00:6f:51:43,bus=pci.0,addr=0x3 -chardev pty,id=charserial0 -device isa-serial,chardev=charserial0,id=serial0 -usb -device usb-tablet,id=input0 -vnc 127.0.0.1:0 -vga cirrus -device AC97,id=sound0,bus=pci.0,addr=0x4 -device virtio-balloon-pci,id=balloon0,bus=pci.0,addr=0x6
Then, run "qemu-kvm --help" (replacing "qemu-kvm" with the path to the binary that libvirt is executing, found in the previous paragraph), and search through that output for the string ",vhost=" - if it's not there, then your qemu doesn't support vhost-net.
This also looks correct. Is it wrong that my qemu compilation didn't create a binary named "qemu-kvm"? (Even though it said "KVM support yes" on the configure output?)