I have done this in the past successfully however my issue is as follows.
I had created a new staging environment using Physical to Virtual converter on my production cluster, on my vacation my team experienced what I discovered was a PDL which caused the corruption and loss of my newly built staging server (was just over 1.5 months old).
I came in on the weekend to create a new staging using P2V and I experienced failures due to fragmention on the source. Defragged all drives and P2V ran successfully however on two drives specifically they show with the correct size for the partition also state healthy however for the filesystem it is blank. I am unable to browse those directories and I review the logs and I see no errors or failures what so ever. It is as if everything is running correctly and that the conversion was successful but again no NTFS for 2 drives the other 3 are perfectly fine and can be browsed.
I currently run 5.1 and prepping for a 5.5 upgrade across my environment and I am also looking to see if it is okay for me to paste logs here after I extract any specific details since I work for the government at a classified facility it is a big pain in butt to take anything from that network and bring it to this one which has limited internet access.