A network storage system includes a network storage system controller/virtualizer which includes at least one transaction processor. When a host access request is received by the network storage system controller/virtualizer, the transaction processor calculates one or more cost functions. In one exemplary embodiment, a cost function associated with storage system volume load and a cost function associated with communication path load are calculated. The cost function result(s) are utilized by the storage system controller/virtualizer to form a request for servicing the host access request while balancing the load of the network storage system.