I saved the changes, verified the changes were saved, and powered up the virtual machine. Upon powering up the virtual machine, I find the virtual machine is not using the MAC address I just assigned to it in the edited .vmx file. When I look at the .vmx file, I find that the virtual machine's .vmx file has been changed back to:
The ethernetN.addressType = static is replaced with the VirtualCenter value and the generated address reappears because VirtualCenter Server owns the virtual machine. Any manual additions to the .vmx file from ESX Server 3.x are overwritten by the entries stored in the VirtualCenter database.