Vista is not a server OS and is not currently a supported platform for VMWare Server. Note beta VMWare Workstation with Vista support has been released. Anyhow, after attempting an install of VMWare Server 1.0.6 on Vista Home Premium x64 I received errors relating to being unable to configure IIS followed by driver signing errors.
To get around the driver signing errors I hit F8 on reboot and selected the Disable Device Signing boot option. I then ran the VMWare Server installer from a command prompt under administrator. I still received warnings about unsigned drivers but the install worked this time. I can now connect to localhost and run my virtuals locally on my Vista x64 machine.