Be careful though, I've had lots of problems with VMware converter... two machines we've moved from physical to virtual now have regular problems with disk consistency and other strange issues to do with locking etc. The fact that it only supports 2GB splits is a PITA too.
With that said, we have got a couple more machines that have been converted and so far have been fine; so there's a distinct possibility there's something peculiar/unique about the dodgy ones. Another way to do it (and it could be argued a better way) is to use Acronis to make a ghost of the disk but store it as a VMDK. You can then create a new VMX and point it to that disk...
Give the converter a go first though seeing as it's free