I would like to thank everyone for your eclectic feedback; it was truly helpful.
Ultimately, I opted to follow Richard Parker's advice to "have faith" in the technology and infrastructure and just run the "delete all"; waiting the job out with crossed fingers and too many bitter memories of faith misplaced in technologies past. Time constraints made this seem to be the logical choice. Still, I will confess that I had a tense 42 hrs while the consolidation ran. It was both fascinating and worrisome to watch as the snapshots slowly merged into each other, consuming more and more disk space with each merge. Ultimately, the consolidate took an additional 700GB off the available disk space while it processed. When all was said an done it took 42hrs and freed up 1.75TB of disk space.
For those who might be interested, here is what I observed about the process:
1. The 95% completion indicator was WILDLY off target(as we already knew).
2. In addition to the existing (3), the consolidation generated a 4th snapshot for each of the (2) hard drives assigned to the VM. Since we were unable to quiescent the system, it seems this 4th snapshot was the ultimate repository of any data changes/additions that occurred during consolidation. This file grew to around 50Gb over the 42 hour period.
3, As pointed out in the artical referenced by Borja_Mari, the consolidate merged snapshot 3 with snapshot 2, then snapshot 2 with snapshot1. Ultimately, snapshot1 was committed to the original vmdk. Once Snapshot2 was merged with snapshot1, no significant data increase was noticed; just the slight growth in snapshot 4. While the worst case scenario of total free space consumed was not realized, it was pretty darn close, as snapshot1 ended up being 90% of the greatest possible size.
4. Apparently, the consolidation process switched the disk type of the original 2TB vmdk (VMAsigra1_1.vmdk) to "thick provisioned" because that is what it now shows as despite having been initially created as a "thin provisioned" disk. Can someone verify this for me?
I am a well chastened and will now pay much closer attention to snapshot cleanup.
Once again, my thanks to everyone for taking the time to submit your suggestions.
Best,