Scott Lowe writes on his blog site that when performing full VM backups using VCB, the end result of the backup operation is a copy of the VMs VMDK files, in 2GB blocks.  This format is similar to the format used by VMware Server and VMware Workstation. 

Given that VMware Converter can convert VMs between ESX Server and the hosted virtualization products, Scott decided to try and use VMware Converter to restore VCB backups. He found good news and bad news.  Check out Scott's full post, here, to read what he determined.