Just bought Parallels, going to be testing it. I'll keep you guys posted. I'm using a Santa Rosa MB 2.2 C2D with XP XP2.
UPDATE: Simple installation, same thing for the XP (I'm installing from scratch, not from Boot Camp). So far the graphics are sharp and crystal clear. Black borders on top/bottom, not yet recognizing my widescreen... VM app takes a lot of cpu, but Leopard is still running fine. Setup of XP (blue screen) took roughly 20 minutes, includes the installation of PD4 time as well. Let's see the performance...
UPDATE: Didn't finish XP installation, just the copying of files. My bad.. Works well, seems light/speedy. When setup was at the command prompt like screen it taxed my CPU quite heavily, using average 100 CPU under Activity Monitor. Now at the graphical setup phase, CPU is like sleeping. We'll wait and see...
Final Results:
Took about a good half hour to install or so. From installing the app to the Windows itself.
Easy to install, it automatically installed Parallels Tools upon first boot of XP. Auto reboot as well for software to finish install.
Overall, I'd give it a 9.5/10. Half a point due to some small little bugs that could be fixed, but do not affect anything.