When you run some OS in VMware (Server/Workstation) it will make use of
the Console/System Ring/Beep. Thats what all OS for PCs since the start
of the Universe have been doing. Some more (Netware) than others.

Unfortunately VMWare completely emulates PC Hardware here. Even more
Unfortunately it does not (In my opinion) do it very good . In some
cases you don't hear the beep at all. But most off the time I get a very
annoying, loud and too long BEEEEP (Timing issue?).

Well switching it off in the Guest is not too hard. But you have to do
it for every VM.

To completely silence the virtual PC-Speaker in all VMs put the
following in /etc/vmware/config:

mks.noBeep = true

/home/username/.vmware/config might also work but I didn't try.
Worked with VMWare Workstation 6 and should for VMware Server 1, dunno
about ESX.

PS. This does not interfere with the virtual Sound Card but only with
the PC-Speaker.