This looks sooo cool. You no longer dual boot, but can load multiple OS at the same time by switching during a live session. It doesn't even have to be Windows, but any OS available. I guess it's kind of like VMWare. It runs like a vitual machine on any Intel based Macs running Mac OS X 10.4.6 or higher. This is great for those who love Macs but love the convienence of Windows. There are some things that haven't worked out yet with this setup. Some MP3 players might not work, but you can use a USB thumb drive. It's only doing USB 1.0 at the moment, and beta testers have reported problems with other devices. Parallels does not support 3d accelerated graphics so games are kept to a minimum. The company plans to add that feature in later.
It's just so neat how you don't have to dual boot, like using Boot Camp. Of course, you'll still have to buy a copy of Windows
Intel Mac runs Parallels