Just by way of an update. Just finished our meeting. We had four options on the table:

1) Use script and WMI (allen)
2) Check registry run values (ntdoc)
3) Use srvinfo | find
4) Check for VMTools service (ntdoc)

We liked options 1 and 2 equally - but decided to go with option #2 because we cant call-out to vb-script using the packaging method that we are using (some kind of install-shield thing).

Thanks for everyone's input.

-Shawn