Does this mean that it will not work – No of course not! From what I have tested it works almost flawlessly – but there are some quirks…
And as Luc put it, “Well, you can't file a bug for something that is not supported, now can you “
Update – February 12th, 2013
VMware have now released an updated version – see the announcement here - PowerCLI 5.1 Release 2 Now Available
This will actually render this blog post obsolete – but I am happy VMware have addressed this issue.