I'm running Solaris 10 v5/08. Running
svcs -a | grep ipsec returns nothing, so I have reason to believe IPsec isn't installed (or isn't showing up for some other reason). How can I make sure it is installed and set up correctly?
The documentation states "Starting in the Solaris 10 4/09 release, IPsec is managed by SMF." As you are using an older release, it is expected for ipsec not to show up as a service.