qemu-img fails to read a disk2vhd (VHD)  image created from  a Windows Server 2003.   
qemu-img will read and convert a VDI image created from that VHD

VHD header/footer details:


[root@T3400 ]# qemu-img info vhd/p.vhd
qemu-img: Could not open 'vhd/p.vhd': File too large

[root@T3400 ]# ./vhddump -vv -s vhd/p.vhd 
Positioning descriptor to VHD footer...
Reading VHD footer...
------------------------
 VHD Footer (512 bytes)
------------------------
 Cookie              = conectix
 Features            = 0x00000002
 File Format Version = 0x00010000
 Data Offset         = 0x0000000000000200
 Time Stamp          = 0x1893342A
 Creator Application = 0x64327600
 Creator Version     = 0x00010000
 Creator Host OS     = 0x5769326B
 Original Size       = 0x000000222E6F4000
                     = 140006 MB + 976 KiB
 Current Size        = 0x000000222E6F4000
                     = 140006 MB + 976 KiB
 Disk Geometry       = 0xFFFF10FF
           Cylinders = 65535
               Heads = 16
       Sectors/Track = 255
 Disk Type           = 0x00000003
                     = Dynamic hard disk
 Checksum            = 0xFFFFEDD8
 Unique ID           = 765e24b9-1e33-594a-864e-f39aea210f24
 Saved State         = 0x00
 Reserved            = <...427 bytes...>
===============================================
Detecting disk type...
Dynamic hard disk detected.
Positioning descriptor to read VHD footer copy...
Reading VHD footer copy...
------------------------
 VHD Footer (512 bytes)
------------------------
 Cookie              = conectix
 Features            = 0x00000002
 File Format Version = 0x00010000
 Data Offset         = 0x0000000000000200
 Time Stamp          = 0x1893342A
 Creator Application = 0x64327600
 Creator Version     = 0x00010000
 Creator Host OS     = 0x5769326B
 Original Size       = 0x000000222E6F4000
                     = 140006 MB + 976 KiB
 Current Size        = 0x000000222E6F4000
                     = 140006 MB + 976 KiB
 Disk Geometry       = 0xFFFF10FF
           Cylinders = 65535
               Heads = 16
       Sectors/Track = 255
 Disk Type           = 0x00000003
                     = Dynamic hard disk
 Checksum            = 0xFFFFEDD8
 Unique ID           = 765e24b9-1e33-594a-864e-f39aea210f24
 Saved State         = 0x00
 Reserved            = <...427 bytes...>
===============================================
Reading VHD dynamic disk header...
--------------------------------------
 VHD Dynamic Disk Header (1024 bytes)
--------------------------------------
 Cookie              = cxsparse
 Data Offset         = 0xFFFFFFFFFFFFFFFF
 Table Offset        = 0x0000000000000600
 Header Version      = 0x00010000
 Max Table Entries   = 0x00011174
 Block Size          = 0x00200000
 Checksum            = 0xFFFFF3F1
 Parent UUID         = 00000000-0000-0000-0000-000000000000
 Parent TS           = 0x00000000
                       0 (10)
 Reserved            = <...4 bytes...>
 Parent Unicode Name = <...512 bytes...>
 Parent Loc Entry 1  = <...24 bytes...>
 Parent Loc Entry 2  = <...24 bytes...>
 Parent Loc Entry 3  = <...24 bytes...>
 Parent Loc Entry 4  = <...24 bytes...>
 Parent Loc Entry 5  = <...24 bytes...>
 Parent Loc Entry 6  = <...24 bytes...>
 Parent Loc Entry 7  = <...24 bytes...>
 Parent Loc Entry 8  = <...24 bytes...>