I was also battling with this problem getting NAT working "out of the box".
- VMware 6.5
- Windows7 64-bit host
- Ubuntu 9.10 guest
- NAT mode
- Guest IP address 192.168.126.32
- Default Gateway 192.168.126.2 (could ping this OK)
- Could ping and nslookup to google.com OK
- Could not browse web to anything
I switched to Bridged mode - no change.
Then I enabled the option "Replicate physical network connection state".
After I did a Disconnect and Connect via the VMware "system tray", I could browse to the outside world.
I notice that after I did this, I got a "real" IP address from my corporate (or home) network, not from the Windows7 host.
This makes me think that there is something we need to do to Windows7 networking to allow web browsing via the NAT option in VMware.