Just the servers are the question?

I think you will have some issues with the SAN setups.

I'm thinking you might want to evict one of the nodes and build the new machine in the VM world and get the SAN connections setup then add it to the cluster, after you get it successfully added fail-over to the VM node (test test test) then evict the last physical node and rebuild it in VM and get the SAN connections setup.

In my mind I keep coming back to the SAN setup in VM Ware.

I can't answer whether P2V will work because of the SAN connectivity and the requirements related to clustering.

CEWII