In case Cold Clone Converter fails during the copy-stage you can also use vmware-mount.exe and mount an existing blank remote disk on an ESX.
Then run robocopy /mir
If you are clever the remote disk is already bootable
Making some speed-comparison tests right now
First results are boring:
task : import a physical XP - machine to ESX - example installation was about 3 GB in a 8 Gb partition
Converter used with sector-copy option: about 12 minutes
VMware-mount and robocopy /mir : about 12 minutes too