Since I just burned 3 days on this issue I thought I would share it here.
I had a Sony PC running Windows XP Professional that I was trying to convert from a physical to a virtual machine (P2V). It was an older PC, circa 1999-2000, using RDRAM and USB 1.0. Model PCV-RX470DS, if that helps the Googles.
I cycled through about a dozen things, including using VMWare Fusion + Bootcamp and the VMWare vCenter Standalone Converter, and nothing worked. I could boot to Safe mode, but any attempt to a regular boot gave me a BSOD STOP 7E
Specifically: "STOP 0x0000007E (0xC0000005, blah blah blah)"
No driver named in the bluescreen.
To make a long story short, the fix was to go into c:\WINDOWS\SYSTEM32\DRIVERS and rename 3 files
ipvnmon.sys
sonydcam.sys
SonyFanC.sys
I renamed them with the ".renamed" extension at the end, e.g., SonyFanC.sys.renamed
After those drivers were out of the loop, everything booted correctly.
Not sure which ones matter, but once I got it booted I didn't really care. I did try to reactivate the Sony Drivers and got a new BSOD, so I just left well enough alone.
Tips:
If these aren't the problem drivers, use "sigverif.exe" to check the DRIVERS folder for unsigned drivers. Rename suspicions ones.
Have another VM at the ready. If you are meddling with the DRIVERS directory, you may render the guest unbootable. When I did that, I just mounted the VMDK in another guest and continued me editing there.
(For some reason, when I used vmware-mount on the VMDKs inside the Windows 7 host, the system did not let me rename files in the DRIVERS directory of the mounted VMDK of the guest)
Lesson learned: If a converted guest doesn't boot, check the DRIVERS directory and be especially suspicious of any unsigned drivers.
Lots of posts had partial help, so I tried to collect all of that help here. Feel free to ask questions if I can clarify what I did.