Noob questions on using VMWare

[Sorry, just realized maybe wrong thread ]

Apologies if it's been discussed before. I have spent a couple hours searching and reading but haven't figured it out yet. I am about to receive a new MBP and intend to use VMWare, so I want to get this right.

I want to use VM Converter to convert an existing Vista set up from my PC. But the app I want to use most is installed on a different partition to the Windows (C:\) partition, but on the same internal HD. ie The app (and its data) are on F:\ which is a partition on the same HD that C: is on.

Qn is, will VM Converter allow me to convert both C: and F: into the VM ?
I'm trying to avoid re-installing the particular app onto my PC's C: drive.

Also - and this is a really noob qn I'm not too proud of asking - once using VMWare, can I install/uninstall new windows apps onto the VM whilst running in VMWare ?

Last stupid qn. Will Windows system and App updates still run as they do on a real PC? eg I use Eset AV which updates its virus signature db atleast twice a day.

Thanks for any answers!

 

Thanks aristobrat. Sounds like it will do everything I want.
Pretty amazing s/w if you ask me. Both from a technical view point AND from a convenience one too!
(Including Parallels, etc... )