Yes, the process MRIMG > to VHD went fine.

I have created a new VM in VMPlayer (and I was very happy).

But at the start my OS Vista (guest) fails to load in VMPlayer. Boot  manager tells: Windows boot failed, a needed device not found or HW has been  modified (I never had the DVD of Vista, because it comes as OEM) but I guess  that the Image from my OS is perfect, I got this image from the same machine  where I have opened then the VHD. perhaps VMPlayer cannot find  the drivers...

I think that I should to give up...