Okay, I downloaded VMware player 4.0 build 471780 and installed it on a Windows 7 system. Using the Virtual Network Editor I removed VMnet0 and VMnet8 and set VMnet1 to IP Address 172.17.0.0 and Subnet Mask 255.255.0.0.
Next I started VMware Player and created a Linux Live OS VM named DA-SLED with a Host Only Network Adapter. I momentarily started it so as to cause VMware Player to add the additional options to the .vmx configuration file primarily to get the assigned MAC Address and then shutdown the VM and closed VMware Player.
Next in Windows Network Connections I changed the default assigned IP Address for VMnet1 to 172.17.12.150, Subnet Mask 255.255.0.0, no Gateway IP Address and Preferred DNS Server to 172.17.12.101.
Next I went into Control Panel > Administrative Tools > Services and stopped VMware DHCP Service.
Next in an Administrative Command Prompt I issued the following command, notepad C:\ProgramData\VMware\vmnetdhcp.conf and edited it as shown in the vmnetdhcp.conf.zip file attached to this reply. I also deleted the C:\ProgramData\VMware\vmnetdhcp.leases file.
Next I went into Control Panel > Administrative Tools > Services and started VMware DHCP Service.
Next I started VMware Player and the DA-SLED Virtual Machine and in a Terminal verified the IP Address assigned in the vmnetdhcp.conf file was as set in the vmnetdhcp.conf file and then successfully ping'ed the Host's VMnet1 Network Adapter at 172.17.12.150 from DA-SLED at 172.17.12.103. Then in a Command Prompt on the Host successfully ping'ed the DA-SLED Virtual Machine at 172.17.12.103.
This concludes the Proof of Concept Demonstration.
You should now be able to take the attached vmnetdhcp.conf.zip and either use it or modify yours accordingly while adding a block of code for the other two VM's so each by there MAC Address will have the correct configuration. This assumes the VM's Network Adapters are configured in the Guest OS to use DHCP or you can properly configure each with static information, you're choice.
Note: Make sure the Host/Guest Firewalls are configured to allow ICMP Echo Requests (ping). I also noticed in the ifconfig_Linux_Servers_and_Workstation.JPG that the ifconfig output for two of the VM's was not showing a Network Adapter present and of course you'll need to rectify that.
Let us know how it goes and if you need any additional help.
(Click image to enlarge or right-click Open Link in New Tab for full size.)
Message was edited by: WoodyZ - Added image of all four successfully ping'ed.
SuperSteve123 wrote: I took the attached vmnetdhcp.conf file and copied it too %ALLUSERSPROFILE%\VMware as you suggested but have not yet modified it.
You cannot just drop that file in place and not modify it appropriately! The MAC Addresses in that file do not correspond to the Mac Address being used on your system! 
What OS and version are the Guests? Where did they come from, did you build them or download them from somewhere?
Archive and attach the .vmx configuration file and the .log files for each VM into a single .zip archive and attach it to a reply post.
I'll look at the previously attached file shortly.
The attached "vmnetdhcp.conf.zip" file contains the properly edited "vmnetdhcp.conf" file reflecting the correct MAC Address from the vmware.log files and IP Address shown in the OP, etc. for VMnet1 and the three VM's and you can use this one as is and it should work.
Don't forget to stop the VMware DHCP Service before replacing the file and then starting the VMware DHCP Service afterwards. Also delete the C:\ProgramData\VMware\vmnetdhcp.leases file before restarting the service.
Message was edited by: WoodyZ - Originally posted, Dec 18, 2012 10:39 PM. Updated vmnetdhcp.conf.zip file.
I unzipped the "vmnetdhcp.conf.zip" file you attached on your last reply to this post and saved the file to C:\Steven\Documents for safe keeping.
Next, I went into the Computer Management Systems Console of my Vista Ultimate Edition Host PC and stopped the "VMware DHCP Service" as you directed.
Next, I copied the "vmnetdhcp.conf" file you sent me to %ALLUSERSPROFILE%\VMware (C:\ProgramData\VMware) and removed the C:\ProgramData\VMware\vmnetdhcp.leases files as you directed from this same area.
Next, I went back into the Computer Management Systems Console of my Vista Ultimate Edition Host PC and started "VMware DHCP Service" but 2-3 seconds lates it just stopped itself again and this pop-up was presented. Reads "The VMware DHCP Service service on Local Computer started and then stopped. Some services stop automatically if they are not in use by other services or programs."
Any ideas why this happened or how to correct it?