I recently found this V2V solution when converting VMs from VMWare to Hyper-V.
The Microsoft alternative was to setup System Center, which I’ve done before and also worked great for P2V, but it requires you have an AD domain and such and this wasn’t convenient for this small lab setup.
5NINE Free Converter worked like a champ for VMs running Win2K3Server and Win2K8Server.
It took a while I think mainly due to network bandwidth limitations.
After migration, the Hyper-V didn’t have the Drives Attached.
Also the Hyper-V VM didn’t have a DVD drive Network Adapter, but these were easily fixed.