I virtualized some of the Hyperion applications. Not HFM but Enterprise, reporting and scheduler. Works like a charm. Originally the Hyprion's position was that they dont support and I challenged them, in the end they said the support but not recommend. Oh well - I took the plunge. Tested the heck out and couldnt find any reason why it wont run in production. So I am in production now - much happier than when it was standalone earlier this year.

We have HFM running in our VI3 prod environment for about two years. Each server role (db, app, etc) has been given its own VM.

Also, found out that in a windows multi-domain environment, while using windows domain credentials to authenticate to the app, application logon time was unacceptably high. This was due to HFM application trying to contact all the domain controllers in all windows domains. Switching to native authentication solved the problem.