With this knowledge there is only one option: vLM with vCenter Server 4 and vCD with vCenter Server 5, both registered in the vCenter Orchestrator.
When migrating to vSphere 5 this could be a one-time scenario. Maybe there are two environments -> the "old" vSphere 4 with vCenter Server 4.x, ESX/ESXi 4.x and VMware LabManager 4.x.x and the "new" one with vCenter 5, ESX 5 and vCD 1.x.
The migration scenario I want to build up is divided into the following steps:
- Archiving the vLM VMs into the Library
- Export of the archived VMs to a "transfer" NFS datastore
- Creation of the "old" configuration as vApp in the vCD
- Import of the exported vLM VMs as new vCD VMs