Going virtual is fine, so long as you get the same or better spec' for it. When we first went virtual it ended up being a downgrade as the hosting server had the same power as the old SIMS server, except it was being shared out over more services. That is supposed to be the idea, and it should manage it, but it's easy to get carried away balancing things out at the top level and forgetting what individual servers need or were used to getting when on dedicated hardware.

Good catch @superfletch on sims.ini - I normally try to use mapped drives so there is less to change if it ever has to.