Is it possible? How does it work? Does it work well? The last question is the one you should ask before you embark on this vROPS on physical adventure. It does work. Now, as of this writing it ONLY works with the soon to be deprecated EPOPS agent. It is NOT currently supported with the newer telegraph agent yet (hopefully in the future). The agent mostly works without a hitch. Some of the in box alerts don't work for physicals because they are looking for VM specific metrics, so you have to create custom symptoms and alerts just for physical (like disk usage for instance).
Upgrade your vRLI and find issues connecting to AD or to your vSphere? When you try to connect do you find some sort of key error when trying to accept the SSL certificate? Fear not! This fairly easy to fix but there isn't a lot of info online about this. I got these steps from VMware and pasted them here exactly. In the future supposedly there will be an article published about this, but until then here we go.
To upgrade to the newest version of vRSLCM (super long acronym!) it's really a migration. There is a tool you use to migrate from the older 2.x version to the 8.x version. They just skipped a bunch of versions in between… the wizard itself is pretty easy. The one piece that may trip you up is it asks to setup a VMware Identity Manager instance. It will not let you proceed without doing so.