Parallels Desktop Mac 2.2 released!
Parallels Inc. has released the newest build of the software
on their Release Candidate update page. The main page will probably be updated to reflect the final status of the release later on. The build fixes various issues, kernel panics among them (although I haven't met any with previous builds) and improves performance. It also lets Vista RC1 live as a guest OS (previously only Beta 2 worked).
Parallels also announced that a new RC build would follow in about two weeks to solve the problem for 64bit Macs with more than 2 GB of RAM. In the current version, users have to restrict RAM to 2 GB through an included tool.