The new JEOS appliance built from Ubuntu 12.04 is available now in the VMware Solution Exchange. It's only 55MB in size instead of the 740MB from a regular install but it still maintains all functionality.
check it out at https://solutionexchange.vmware.com/store/products/12-04-lts-jeos-ubuntu
and don't forget to rate it: 12-04-lts-jeos-ubuntu rating