Although I really have become a fan of VMWare in lieu of Parallels, this looks like a nice update.  May have to tinker with it.

On Tuesday, Parallels released Desktop 4 for Macintosh, the fourth generation of their virtualization software for Macs. The new version features a new user interface, 50 percent performance gain, up to 8 GB RAM per virtual machine, a new view mode, scheduled snapshots and more.

In June 2006, Parallels released Desktop 2 for the Mac, and in June 2007 Desktop 3 was released. Since the original launch, Desktop has sold more than 1.5 million copies in over 125 countries and 10 languages.

Version 4 is a major update which adds features requested by customers, adds performance enhancements and brings an entirely new look and feel to the application.