Existing users, 
I found Parallels Desktop 3 to be a good stable performer, and was shocked when I upgraded to v4. The new version is very buggy. It completely hosed my Ubuntu 8.04 VM. My Windows XP VM went through the arduous upgrade process fine, but took some reconfiguration to get back to a normal state.
As for speed, v4 is pathetically slow. It takes ages to boot Windows XP, and I have to wait 15-20 seconds for Firefox to load. v3 was infinitely faster.
Definitely backup your VMs when prompted, as you will likely want to downgrade to v3 soon after installing v4. Or, like me, you might just jump ship to VMware Fusion.
Parallels Desktop
Run Windows simultaneously with OS X.
Version: 5.0
Terrible...
Feedback Type: Review
Contributed by: natenate Tuesday, November 25 2008 @ 05:41 PM PST
Product Platform: MacOSX
Used Product For: Over One Year
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Comments
Yes you can downgrade I have - anothersphere
And it works fine.Wednesday, November 26 2008 @ 03:53 PM PST
Terrible... - barrymaine
I too "upgraded" to 4.0 and now find my Parallels to be virtually useless. Internet Explorer will not connect out to the internet. My network connection is fine. Any suggestions would be appreciated. Is it possible to go back to version 3?Thanks.
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Tuesday, November 25 2008 @ 08:00 PM PST