Hey guys this is sort of a follow up.
I've just finished testing converting several different physical machines to virtual machines using VMWare's Converter program. It's still in Beta at the moment so you can get it for free. It seems to work very well, and is supposedly their replacement for P2V. I can host the .exe if anyone would like to test it out.
Or you can download it after filling out a BS registration form (give 'em fake info) at this address -
http://www.vmware.com/products/beta/converter/
Let me know how things pan out for you guys.