If this has been asked before, I looked but didn't find it.
The end goal is to create a ovf file that can be used by player, virtualbox and any other similar tool supporting ovf.
I can create a ovf file from a player vmx file with ovftool or from virtualbox export but vmplayer cannot open the ovf file. It says "Failed to open virtual machine: Failed to query source for information".
http://www.vmware.com/appliances/getting-started/learn/ovf.html seems to imply that ovftool is the solution to this problem: VMware OVF Tool is a command line utility that supports importing and exporting of OVF packages for a wide variety of VMware platforms...
The fact that vmplayer file open can select files of type ovf implies that perhaps the ovftool function will be integrated into player some day.