Hi,
If the option to rebuild this server is easily enough done, I would take that route.
With a 925GB LUN, you could easily create an 800GB VM that provides for your needs and reserves > 10% of the LUN - I would do that.
I'm still interested in whether a snapshop is the issue here though, I've seen plenty of day one snapshots. Right click on the VM and open the snapshot manager - show us what you see.