I'm most sure NLB using multicast will work in Workstation 7.0. Unicast I'm not so sure (found some old notes stating "stay away from it", but haven't found anyone else confirming. Here's a link for ESX, and even using ESX is recommended to go Multicast, http://kb.vmware.com/selfservice/microsites/search.do?language=en_US&cmd=displayKC&externalId=1556 )
Pay attention that if you create clones of you VM's (linked or full doesn't matter) to create your nodes for the cluster you need to remove the NIC(s) and add them back again. Otherwise the NIC(s) will have the same GUID which will give strange results.