Rather than retrying the P2V process, you may simply try repairing the OS, failing that, try an in-place upgrade as MS suggests here: http://support.microsoft.com/kb/816579
- Insert the Windows Server 2003 CD in the CD-ROM drive or the DVD-ROM drive, and then restart the computer. Windows Setup begins.
- Press ENTER (to continue) when the Welcome to Setup window appears.
- Press F8 to accept the License Agreement.
- Use the arrow keys to highlight the Windows Server 2003 installation that you want to upgrade, and then press R (to Repair).
Note If the Setup program does not detect a previous installation but just continues to the partitioning screen, an in-place upgrade may not be possible. To detect an existing installation, the Boot.ini file must be correct, the installed registry files must be intact, and the build number must be the same. If these are not all true, Setup will not find the installation to do an in-place upgrade.
UPDATE 1 - For OP comment:
You need to repair the VM, not the original box. It's very possible that some of the system files were not able to be read to the VM. It's also possible the hardware change may have been substantial between the physical box and the VM. Either of these possibilities are much easier to resolve by first trying a repair.
Any good virtualization system should support mounting either the physical optical drive on the host to the VM, or an ISO or disk image as a virtual optical drive. If your system cannot do both of these, you should do more research before deploying virtual machines.
If you cannot mount an optical disk or a disk image, you are significantly limited in how you can interact with your VMs.
So, find out how to either map the hosts optical drive to your VM (this will be in the VM host management software), or turn your sbs2003 disk into an ISO (https://superuser.com/questions/166996/simple-utility-to-rip-isos-on-windows-7) and mount it, and run the repair features.