I've P2V'd many servers now with SCVMM without any problems.
I've got to one of our last servers and when I try to start the P2V job I get:
The snapshot creation failed because VSS writer {e8132975-6f93-4464-a53e-1050253ae220} on source machine machinename did not respond within the expected time interval.
I found many article which included re-registering DLLs, deleting registry keys and restarting services and it was only a combination of all of these that seemed to work.
Here is what I did for those that want to try:
I followed http://support.microsoft.com/kb/940184
Then I did:
net stop cryptsvc
net start cryptsvc
Hope this helps someone out there.