I haven't used that, but it looks pretty flexible with regards to the different virtualization products that it will work with. I've had good luck using vmware's own P2V converter, but I suspect it may only allow for the VM to function with their products and not others like the tool you linked to. One advantage with the vmware P2V is it works with some Linux distributions in the P2V. I've done it successfully with Redhat 5.
I converted a Windows 7 install to Virtual Box while Windows 7 was running. Works great! Only took about 5 Minutes.
The virtual Windows 7 booted in Virtual box without problems. Well...Windows had it's own problems, but the virtual machine was fine.
I haven't used the converter, but I've used other Paragon products over the years and they've been rock-solid. A lot slower than Acronis perhaps, but dependable.
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