I am running into the same issue all of a sudden. Was using VMware just fine yesterday, today I am unable to launch the program, I immeidately get an error log. I've shut down the machine a few times. I'm on a mac trying to run Windows 8 Pro
Process: VMware Fusion [2260]
Path: /Applications/VMware Fusion.app/Contents/MacOS/VMware Fusion
Identifier: com.vmware.fusion
Version: 5.0.2 (900491)
Code Type: X86-64 (Native)
Parent Process: launchd [159]
User ID: 501
Date/Time: 2013-02-28 14:00:28.916 -0800
OS Version: Mac OS X 10.8.2 (12C2034)
Report Version: 10
Here is the log
2013-02-28T14:00:30.059-08:00| usbArb| I120: Log for VMware USB Arbitration Service pid=2402 version=5.0.1 build=build-900491 option=Release
2013-02-28T14:00:30.059-08:00| usbArb| I120: The process is 64-bit.
2013-02-28T14:00:30.059-08:00| usbArb| I120: Host codepage=UTF-8 encoding=UTF-8
2013-02-28T14:00:30.059-08:00| usbArb| I120: Host is OS X 10.8.2 (12C2034)
2013-02-28T14:00:30.171-08:00| usbArb| I120: VTHREAD initialize main thread 2 "usbArb" pid 2402
2013-02-28T14:00:30.171-08:00| usbArb| I120: Msg_Reset:
2013-02-28T14:00:30.171-08:00| usbArb| I120: [msg.dictionary.load.openFailed] Cannot open file "/Library/Preferences/VMware Fusion/config": No such file or directory.
2013-02-28T14:00:30.171-08:00| usbArb| I120: ----------------------------------------
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Optional preferences file not found at /Library/Preferences/VMware Fusion/config. Using default values.
2013-02-28T14:00:30.171-08:00| usbArb| I120: Msg_Reset:
2013-02-28T14:00:30.171-08:00| usbArb| I120: [msg.dictionary.load.openFailed] Cannot open file "/Applications/VMware Fusion.app/Contents/Library/settings": No such file or directory.
2013-02-28T14:00:30.171-08:00| usbArb| I120: ----------------------------------------
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Optional preferences file not found at /Applications/VMware Fusion.app/Contents/Library/settings. Using default values.
2013-02-28T14:00:30.171-08:00| usbArb| I120: Msg_Reset:
2013-02-28T14:00:30.171-08:00| usbArb| I120: [msg.dictionary.load.openFailed] Cannot open file "/Applications/VMware Fusion.app/Contents/Library/config": No such file or directory.
2013-02-28T14:00:30.171-08:00| usbArb| I120: ----------------------------------------
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Optional preferences file not found at /Applications/VMware Fusion.app/Contents/Library/config. Using default values.
2013-02-28T14:00:30.171-08:00| usbArb| I120: Msg_Reset:
2013-02-28T14:00:30.171-08:00| usbArb| I120: [msg.dictionary.load.openFailed] Cannot open file "/var/root/Library/Preferences/VMware Fusion/config": No such file or directory.
2013-02-28T14:00:30.171-08:00| usbArb| I120: ----------------------------------------
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Optional preferences file not found at /var/root/Library/Preferences/VMware Fusion/config. Using default values.
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Disabling user preferences because disableUserPreferences is set.
2013-02-28T14:00:30.171-08:00| usbArb| I120: PREF Failed to load user preferences.
2013-02-28T14:00:30.171-08:00| usbArb| I120: DICT --- USER PREFERENCES
2013-02-28T14:00:30.171-08:00| usbArb| I120: DICT --- USER DEFAULTS /var/root/Library/Preferences/VMware Fusion/config
2013-02-28T14:00:30.171-08:00| usbArb| I120: DICT --- HOST DEFAULTS /Library/Preferences/VMware Fusion/config
2013-02-28T14:00:30.171-08:00| usbArb| I120: DICT --- SITE DEFAULTS /Applications/VMware Fusion.app/Contents/Library/config
2013-02-28T14:00:30.171-08:00| usbArb| I120: USBArb: Loading device rules from '/Library/Application Support/VMware/usbarb.rules'.
2013-02-28T14:00:30.171-08:00| usbArb| I120: VMware USB Arbitration Service Version 10.1.24
2013-02-28T14:00:30.171-08:00| usbArb| I120: USBArb: Attempting to connect to existing arbitrator on /var/run/vmware/usbarbitrator-socket.
2013-02-28T14:00:30.171-08:00| usbArb| I120: SOCKET creating new socket, connecting to /var/run/vmware/usbarbitrator-socket
2013-02-28T14:00:30.171-08:00| usbArb| I120: USBArb: Connected to the existing arbitrator.
2013-02-28T14:00:30.235-08:00| usbArb| I120: SOCKET 1 (9) recv detected client closed connection
2013-02-28T14:00:30.235-08:00| usbArb| I120: USBArb: Arbitrator closed the connection.
2013-02-28T14:00:30.235-08:00| usbArb| W110: USBArb: Exiting with error:0