I believe I had it set to assign an ip address automatically, but if I understand your previous post properly, shouldn't it have piggy-backed on the host address?
I'm really not sure where it obtained the address.
The VM needs to be setup as "DHCP" for NAT to work, vmware will then internally link your static host IP address to the DHCP vm address. Make sure you are using the right network between host and vm, you may have your local connection and wireless connections crossed.
For example, my host Windows 7 machine has a "static" IP address of 192.168.1.225 (I have a PLC with an IP address of 192.168.1.10)
On my XP virtual, when I do an "ipconfig" it returns "192.168.27.137" (the internally assigned NAT network from VMware)
From my host I can ping "192.168.27.137" (virtual)
From my virtual I can ping "192.168.1.225" (host), and "192.168.1.10" (plc)