I'm a long time Parallels user for the mac. I've been using it mostly so I can use Visual Studio. I installed XNA and when I tried to run the samples I immediately got the "No Suitable Graphics Card" issue regarding HiDef. I was able to set my project to "Reach" by right-clicking and going to properties. However the problem is: I can not run any examples that have Vertex Shader 3.0 (which is many of them). Is this not supported or do I have something not setup right? If I run DXDiag I have all the 3D acceleration enabled.
I tried using the latest update, game studio 4.0 in Visual Express 2010. It was a no go. I sent a feature request and started a thread about it. I really hope they will add support for it in the near future.