The 'in-place' option seems to have done the trick. Here's the pertinent part of the log"
2014/11/10 17:00:00 Performing a full backup of V:/VMs/
2014/11/10 17:00:00 Uploading V:/VMs/ to VMs/
2014/11/10 17:00:00 rsync command: rsync --serv…
Here are the results;
On the Windows side:
Directory of V:\VMs\Tried
2014/08/22 19:04 .
2014/08/22 19:04 ..
2014/11/09 11:30 149,069,758,464 Tried_1.vdi
2014/11/09 11:30 277,922,971,648 Tried_2.vdi
…