Hi,
Nope you can actually use the VMware converter from a standalone machine or any machine. it does not need the new Host it requires a windows machine that's all.
and as Andre said, you can have an Virtual disk of max size 2TB only if its less than Hardware version 10 and if above you could have a virtual disk of 64TB. take care of that and you should have no trouble.
Thanks,
Avinash