Hi Pat. The short answer to your question is "yes".
Since 1.5 has just recently been released, the Nexus 1010 will be coming with a new software version as well in mid-to-late February (this month). In this new release, there is a new feature to allow you to migrate existing VSM as a VM onto the 1010. Previously it was possible to do but could be combersome for some customers. This new feature will minimize this task but moving from VSM as a VM to Nexus 1010 does require to have proper network settings. There will be documentation on this process and our TME team will work on a "cheat sheet" in the near future.