This is going to be another short article, and the answers is going to be no. VMware is not supported by Microsoft.
"For customers who purchase VMware products directly or from an authorized reseller) and who do not have a Microsoft Premier-level support agreement, Microsoft's level of support is more restrictive. Microsoft support specialists may request that customers first replicate the issue on a physical machine. Item #897615 in Microsoft's Knowledge Base describes this policy"
Imagine, the efforts we will have to spend the simulate the same issues on hardware platform, before PS helps you out.
This is the biggest concern of mine. Otherwise VMware solution has no difference as hard ware platform from my Experience.
Since Microsoft is not supporting, I would say no, going for VMware solution, if paid Microsoft PS support is need, I am sure first thing the Microsoft PS person will find out, VMware is running and there will be no support. Okay let's forget about Microsoft support, assume you are the hero Exchange guru and can fix everything by your own,
You might have a big problem, because most of the Microsoft Tools will catch, notice the VMware platform and won't work. This will be big issues to get the work done.
Based on these reasons I have listed above, do not use VMware in production environment
I have configured two of our bridge head server on VMware, by knowing this. The performance or any other aspects anyone can think of is the same if these servers were on hard ware platform. But again if I ever need support I know I am not getting it, so it is catch 20 situation.
"Support policy for Microsoft software running in non-Microsoft hardware virtualization software"