VMware Workstation 7.1.4 worked correctly on kernel 2.6.38, e.g. the modules built without problems.
Unfortunately, it's not working correctly anymore, after you upgrade to the latest linux kernel 2.6.39.
Thanks to Weltall, we now have a patch that brings Workstation (and probably Player, too) up-to-date with the newest kernel. Here's the original article: Running VMware Workstation / Player on linux 2.6.39 - UPDATED
I've also attached the patch to this article, because Weltall's blog is quite slow and sometimes even unreachable. If you need help applying the patch, follow the instructions on this page: VMware Workstation 7.1.3 runs great on Linux kernel 2.6.37.