I have the exact same problem after a reset of a Vista Virtual machine got stuck. In the Virtual machine folder i have a .vswp-file which cannot be removed.
My .log looks like this when trying to restart the machine:
Aug 04 09:45:53.327: vmx| Log for VMware ESX Server pid=101178 version=3.0.0 build=build-27701 option=Release
Aug 04 09:45:53.334: vmx| Hostname=xxxx.net
Aug 04 09:45:53.334: vmx| Command line: "/usr/lib/vmware/bin/vmware-vmx" "-ssched.group=host/user" "-@" "pipe=/tmp/vmhsdaemon-0/vmxf2afe72882701c59;vm=f2afe72882701c59" "/vmfs/volumes/44d1d1c2-9b65d88c-75c8-0002a5e7a83d/Vistatest/Vistatest.vmx"
Aug 04 09:45:53.402: vmx| UI Connecting to pipe '/tmp/vmhsdaemon-0/vmxf2afe72882701c59' with user '(null)'
Aug 04 09:45:53.437: vmx| pcpu #0 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.438: vmx| pcpu #0 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x2080e
Aug 04 09:45:53.438: vmx| pcpu #0 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.438: vmx| pcpu #1 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.438: vmx| pcpu #1 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x102080e
Aug 04 09:45:53.438: vmx| pcpu #1 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.438: vmx| pcpu #2 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.438: vmx| pcpu #2 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x202080e
Aug 04 09:45:53.439: vmx| pcpu #2 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.439: vmx| pcpu #3 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.439: vmx| pcpu #3 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x302080e
Aug 04 09:45:53.439: vmx| pcpu #3 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.439: vmx| pcpu #4 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.439: vmx| pcpu #4 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x402080e
Aug 04 09:45:53.440: vmx| pcpu #4 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.440: vmx| pcpu #5 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.440: vmx| pcpu #5 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x502080e
Aug 04 09:45:53.440: vmx| pcpu #5 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.440: vmx| pcpu #6 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.440: vmx| pcpu #6 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x602080e
Aug 04 09:45:53.441: vmx| pcpu #6 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.441: vmx| pcpu #7 CPUID numEntries=2 GenuntelineI
Aug 04 09:45:53.441: vmx| pcpu #7 CPUID version=0xf11 id1.edx=0x3febfbff id1.ecx=0x0 id1.ebx=0x702080e
Aug 04 09:45:53.441: vmx| pcpu #7 CPUID id80.eax=80000004 id81.edx=0x0 id81.ecx=0x0
Aug 04 09:45:53.441: vmx| CPUID id1.edx: 0x3febfbff id1.ecx: 0 id81.edx: 0 id81.ecx: 0
Aug 04 09:45:53.442: vmx| CPUID id88.ecx: 0 id88.edx: 0x7a7023
Aug 04 09:45:53.462: vmx| Setup symlink /var/run/vmware/%2fvmfs%2fvolumes%2f44d1d1c2%2d9b65d88c%2d75c8%2d0002a5e7a83d%2fVistatest%2fVistatest%2evmx -> /var/run/vmware/root_0/1154677553337794_101178
Aug 04 09:45:53.463: vmx| ACL_InitCapabilities: current IPC thread
Aug 04 09:45:53.463: vmx| ACL_InitCapabilities: done
Aug 04 09:45:53.464: vmx| changing directory to /vmfs/volumes/44d1d1c2-9b65d88c-75c8-0002a5e7a83d/Vistatest/.
Aug 04 09:45:53.464: vmx| Config file: /vmfs/volumes/44d1d1c2-9b65d88c-75c8-0002a5e7a83d/Vistatest/Vistatest.vmx
Aug 04 09:45:53.482: vmx| DISKLIB-VMFS : "/vmfs/volumes/44d1d1c2-9b65d88c-75c8-0002a5e7a83d/Vistatest/Vistatest-flat.vmdk" : open successful (23) size = 10737418240, hd = -1. Type 3
Aug 04 09:45:53.484: vmx| DISKLIB-VMFS : "/vmfs/volumes/44d1d1c2-9b65d88c-75c8-0002a5e7a83d/Vistatest/Vistatest-flat.vmdk" : closed.
Aug 04 09:45:53.566: vmx| VMXVmdb_LoadRawConfig: Loading raw config
Aug 04 09:45:53.800: vmx| VMXVmdbCbVmVmxExecState: Exec state change requested to state poweredOn without reset
Aug 04 09:45:53.801: vmx| TOOLS delaying state change request to state 3
Aug 04 09:45:53.801: vmx| PowerOn
Aug 04 09:45:53.811: vmx| VMXVmdb_LoadRawConfig: Loading raw config
Aug 04 09:45:53.838: vmx| VMMon_CreateVM: vmmon.numVCPUs=1
Aug 04 09:45:53.843: vmx| Msg_Post: Error
Aug 04 09:45:53.843: vmx| \[msg.vmmonVMK.creatVMFailed] Could not power on VM : No swap file.
Aug 04 09:45:53.843: vmx| \[msg.monitorLoop.createVMFailed] Failed to power on VM----
Aug 04 09:45:53.936: vmx| Module MonitorLoop power on failed.
Aug 04 09:45:53.937: vmx| VMX_PowerOn: ModuleTable_PowerOn = 0
Aug 04 09:45:54.312: vmx| vmdbPipe_Streams Couldn't read: OVL_STATUS_EOF
Aug 04 09:45:54.313: vmx| VMX idle exit
Aug 04 09:45:54.333: vmx| Flushing VMX VMDB connections
Aug 04 09:45:54.333: vmx| IPC_exit: disconnecting all threads
Aug 04 09:45:54.333: vmx| VMX exit.