this is how i'd like the Parallels fullscreen change to be or at least be capable of... http://redf.net/vmware_fs.avi its vmware and right now, that is the *only* thing vmware has that i desire. maybe desire isn't a strong enough word, but you get my drift.
if you notice vmware does the fancy effect and hides the resolution change in windows basically. the end result is a very smooth windowed<->fullscreen transition. whereas with parallels, it does the fancy animation and once the animation is gone, you're left with a stretched screen and then a few second later windows then changes to the correct resolution. and on returning back to windowed mode, after the animation, you're dumped back to your desktop with a giant parallels window on it, which a few seconds later windows then resizes back to the original resolution. basically, parallels is doing fancier effects, but not hiding the gory details of the res change. vmware on the other hand is doing some rather subtle fade effect, but hiding the res change from you, making it just look seamless.