I had a problem this morning with a P2V conversion but I was able to resolve - surprisingly without spending hours on it or deleting my new vm.
Anyhow - I did a P2V conversion of a Windows 2000 Standard Server, upon boot up it immediately tried to do a PXE boot and failed with "Operating System Not Found". I forced it to boot into the BIOS and verified my boot order - all looked good, so I booted again..same message.
The fix - well the vm picked up two drives upon conversion(a system partition?) I recall selecting all the system drives during the setup so, I simply changed the order of the drives in the BIOS and the VM booted right up. This could have easily driven me crazy all day but really glad changing the drive order was able to get me into the OS.