When you boot your new machine, you will have to press something like F2 to gain access the the BIOS, the BIOS is a very basic set of command that configure the machine of hosting an operating system.
Rick suggested an external Hard Drive to enable you to save space on your new machine. you will also get better performance from your virtual environment if you run the guest from another Harddrive
and you need VMplayer to add the hypervisor (the software that will allow you to run your converted machine as a guest on your new machine)