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The solution is to finish the conversion manually. All the data have been copied, the reconfiguration has failed. It consists of the following:
- install GRUB at the destination VM
- fix fstab
- fix the modules configuration for the kernel to boot in the new virtual hardware and rebuild the initrd image.
Boot the VM from a live CD to do that. The first 2 steps are relatively trivial. The last one requires you to edit the modules configuration (e.g. \etc\modprobe.conf, \etc\modules.conf, or \etc\modprobe.d\dist.conf, I don't know what Fedora 14 uses) The destination VM most probably uses LSI Logic SCSI adapter, so you should ensure that mtpbase and mtpscsih are there; also pcnet32 for the network. Then run mkinitrd.
Cross fingers anrd reboot.