I will separate the vMotion traffic, but I think I will need to keep Management and VM network on the same VLAN for now because that is where the physical vCenter server resides.  I can't change the IP of the vCenter server because it doubles as an internal DNS server.

You can still put your host management interfaces into a separate VLAN/subnet and leave the vCenter in the VM network. There is no requirement that they must be on the same subnet and there's not any significant traffic going on between vCenter and the hosts it manages.

Your networking setup should work but it looks a bit "clumsy" considering you will put everything on the same physical switches anyways. Is there a reason you're not tagging VLANs on the vSwitch?

Like I said in my other post, I'd combine the management and vMotion VLANs on one vSwitch with 2 uplinks. Set the active/standby failover order for the 2 vMotion vmk NICs accordingly and don't bother with settings for the insignificant management traffic. At least unless you do backups/replication/frequent conversions or such things through that management interface.