Here's something you may try/check for your crash issue : uncheck any compatibility mode in the compatibility tab of the shortcut properties that launch the Player or VMWare Workstation (worked for respectively versions 5.02 / 9.02).
For me, compatibility was set on Windows XP SP3 while I was running under Windows 7 64 bit.
That way opening the VM settings with 1 NIC hangs for about 8 seconds the first time (nexts openings are immediate).
The same with more than 1 NIC freeze forever. Only solution is to kill vmware.exe (or vmplayer.exe).
Unchecking any compatibility make the settings to be displayed immediately in every case, for both WorkStation and Player !
Note that reinstalling VMWARE is useless if you keep using the standard path.
Even doing a /clean or using the cleanup how to (http://kb.vmware.com/kb/1308) because compatibility param are saved on windows side *PER USER* there :
HKEY_CURRENT_USER\Software\Microsoft\Windows NT\CurrentVersion\AppCompatFlags\Layers
But making a copy of the launched binary, or running it under a different user may work... as there will be no entry for this "new binary" or for another user in the registry ! ;-)