Yes it works. Just you should be aware maybe you lose that VM's network connectivity after even a successful P2V migration operation, so check the following link please:Please mark my comment as the Correct Answer if this solution resolved your problem
XP and 2003 will (most likely) convert even with latest Converter 6.2, despite not being mentioned as supported.
It will not work with 2000, though. If you can manage to download Converter 4.0 or earlier from somewhere, it can convert them.
95 is something that has never been supported by Converter AFAIK. You may try but it will most likely not work.