I have a laptop with 2 partitions: first for XP and second for Windows 7. Win7 don't have the 100Mb System reserved partition.
I tried to convert with vmware converter version 5, but before finished the conversion fails at 98% with system volume/boot.ini error.
When i tried to use the virtual disk, appear the dual boot screen, i can select XP or Win7 boot, but appear blue screen with 0x0000007B, or message to insert XP or Win7 DVD and make boot repair.
Thank you very much !