Hopefully you will read this and go "That's obvious". I'm writing this entry, however, for those who don't.
When IPsec was being specified over 10 years ago, attacks against cipher-block-chaining (CBC) encryption were understood. ESP has an authentication algorithm because AH had a vocal-enough opposition to merit having packet integrity in ESP also (there are also performance arguments for ESP-auth).
Now there actual attacks with actual results. Kenny Paterson and Arnold Yau have published a paper with attacks against no-authentication ESP Tunnel Mode. I believe some of the techniques can also be employed against Transport Mode as well, but again, only with no authentication present.
The simple solution, of course, is to employ your choice of ESP Authentication (encr_auth_algs in ipsecconf(1m) or ifconfig(1m)) or AH (auth_algs in ipsecconf(1m) or ifconfig(1m)) with your IPsec deployment. We warn users about such configurations with ifconfig(1m) today. There is an RFE to eliminate or make very difficult encryption-only configurations in Solaris. Maybe someone in the OpenSolaris community would like to take a stab at it?