I've been hacking away for ages trying to get a dial-up modem to work inside a View desktop, running any version of Windows. vSphere 4. VMware View 4.6.0 build-366101.
There's an old thread here on the subject, but no solution to my problem: http://communities.vmware.com/thread/180499
Thread moved from VMware Server 2 to VMware View™ (with View Manager)
To start I'd drop the USB modem, and just get a USB to serial cable, then find an old serial modem. At least there is support for the USB to serial adapaters. However, I highly doubt a modem is going to work if you need it for any kind of dial up service. If you think about it, it does make sense. A modem "syncs" with the modem on the other end. During the handshake process both modems continue to dumb down there baud rates until both can talk in sync. Being that this modem would have to pass over a VDI session which is remote, the modem would never be able to talk in sync and therefore it would be worthless. If its not something that has to do a handshake you might have a chance, but I have a hard time beleving this coudl work (even forgetting driver issues).