Eric Siebert at Techtarget has a write up on Snaps ( part 2 ) titled Deleting virtual machine snapshots without wasting disk space
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Taking snapshots of your virtual machines is a useful way to preserve and restore ESX configurations; however, proper management is needed to avoid performance problems. In this tip, we’ll explore advanced snapshot management topics. (For snapshot basics or to review how snapshots work, see my previous tip.)
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Eric does a great job of explaining the disk space used when deleting a snapshot, and performance factors.