With my HP laptop, if I add the CD/DVD drive to my Ubuntu VM then this happens every time. So like the doctor says, "Does it hurt when you do that? then don't do it." ;) It'd be nice if VMware Player didn't bomb out for something straightforward like that, but such is life. You can always turn off that hardware before you run the VM.
My general experience as well is that it's better to add/remove hardware to the VM with the VM off. Remember that these are things which you usually wouldn't be able to change with a PC running, so it's not unreasonable for driver authors to assume that what they have on startup will not change.
BTW, don't forget that you'll need to manually delete all the lock files in the VM directory as well. VMware Player does a less-than-perfect job of cleaning up after crashes.