I have a base 2003R2 VM on Workstation 5.5x that i used to import from. I wanted to increase the HDD space (Otherwise i would have cloned it) and ran the converter. It converted successfully.
When i started it, it would not boot!
Load the non-bootable virtual disk into a different working VM and take a look at the boot.ini located in the root of the system drive. The problem may be due to the boot.ini pointing to the wrong location/partition.
Install the virtual disk you're having problems with as a 2nd disk into an existing 2nd Virtual Machine. Then using the 2nd Virtual Machine, load the boot.ini into Notepad and inspect it to see if the boot.ini is pointing to the correct partition to boot from.
Hope that helps.
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