I have P2V'd machines that had SAN attached storage no problem in the past. There were issues with earlier versions of VMware converter where it wouldn't see SAN attached drives that were type GPT as opposed to MBR. The servers I migrated used FC netapp filers.

The one thing you'll want to do is to shut down the SQL services though. Converter works on a drive by drive basis and if they're large there can be a large time difference between the data and log drive conversions. When your virtual system comes up the databases will likely be corrupted.