Via MacDailyNews, here is a detailed (15 minutes) review of the newest virtual environment for the OS X and Macs - Parallels Desktop 5.
- Optimized for Mac OS X 10.6 Snow Leopard
- Full support for Aero, including Flip 3D in Windows Vista and 7 & OpenGL 2.1
- Parallels Compressor automatically reclaims hard disk space
- Intel VT-x2 virtualization technology drives maximum performance
- Unmatched virtual machine performance
- Launch Windows apps directly from the Mac dock
- Support for Multi-Touch trackpad gestures in Windows applications
- Improved USB device compatibility — printers, cameras, mobile phones, scanners, GPS devices and more
- Run Mac OS X and Windows on multiple monitors
- Easily organize multiple windows with Exposé and Spaces
- Use Apple remote to control Windows applications
- Copy & paste formatted text and images between Windows, Mac and Linux
- See into the smarter way to run Windows
- Run more than 60 different — operating systems, including Windows, Linux, BSD and more
- Full support for Snow Leopard, Mac OS X Server, 8 virtual CPUs and 64-bit Windows
- SmartGuard’s instant "snapshots" make backup and recovery easier than ever
- Use administrator tools to protect and secure virtual machines
- Enhanced! DirectX 9.0c/9Ex with Shader Model 3 support for games and 3D graphics apps
- Bonus Software Parallels Internet Security by Kaspersky protects from virus and spyware threats, plus Acronis True Image and Acronis Disk Director
I've stopped at Parallels 2 but since upgrading to Snow Leopard, it stopped working. But just as well since Parallels 5 has a great many improvements over previous versions as well as its competitors.
Check out the video to see if this version is for you.
Also, you might want to consider a couple of other offerings such as Fusion 3 from VMWare or Sun Microsystem's Virtualbox, which is free.
More links and where to buys: