Hi,
as TimH describes, set up your virtual machine. Initially, try it in server mode only, that will confirm that your system is working properly. It is a bit more complicated when you want to set it to server/gateway and actually test it in that mode.
Settting it up as server only will confirm that it is working okay, just as another "server" on your network.
HTH,
Andre
(PS: I have vmware 3.2 working in all kinds of config with SME Server, not a problem)