Parallels Desktop 4

Parallels has just announced the release of Parallels Desktop 4.0, the popular consumer virtualisation solution for Mac OS X. According to the announcement, Parallels is now 50% faster than before, along with expanded 3D graphics support, 20% better battery life, 64-bit support, and an adaptive hypervisor that changes depending on whether Mac OS X or the Parallels VM is demanding more resources, further optimising speed.

Parallels Desktop now includes iPhone support, allowing for remote access and management of a Windows VM through your iPhone with a specially-designed app. The new version supports even more Apple products, with Mac OS X Leopard Server and Mac OS X Snow Leopard supported in virtual machines. With Parallels offering becoming a more serious threat to VMware, will we be seeing VMware Fusion fans giving up their current solutions in favour of Parallels?

Link: New Features

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An interesting feature that wasn't mentioned is Quick Look support with the Parallels VMs. You can see power status and a screenshot of the VM.

personally if i need to purchase another upgrade to parrallels to get it to work with the newer Mac OSX like i had to for leopard, i will spend the money on VM Ware instead as all of their upgrades are free.