Parallels 5 and boot camp file sharing

[DBlain2009]

I just ordered my first mac and decided to get a iMac 27" Quad Core i7. I am attending college so i thought i would purchase parallels desktop 5 incase i would need to run a windows program for a class. I was wondering if there was a way to install both boot camp and a VM using the same partition. In other words i want to be able to access my files i create in my VM in boot camp and vise versa. Any help would greatly and im sorry if this is in the wrong section

 

[chris2k5]

I can't really make out your question BUT...Here is what I just did 10 minutes ago after getting Parallels:

Since I already had Boot Camp partition with Windows 7 on my Macbook Pro, I just used the Boot Camp partition option in Parallels and what it did was use my Boot Camp Windows 7 and made it into a Virtual Machine.

I just made the Virtual Machine be native to "space #2" using Mac OSX's "Spaces".

Works pretty well after I boosted the RAM up to 2GB. I only have 4GB in my MBP so I might upgrade to 8GB soon.