Mac OSX and Windows on Separate Internal Hard Drives

I'm planning on getting a 115GB Solid State Drive and also use my current 320GB traditional hard drive. My desire is that I could boot my SSD with Mac OSX, but use Parallels and Windows on the traditional hard drive. Is this possible? My understanding is that I can't have Parallels on one drive, and Windows on the other. But can I access Parallels and Windows on the traditional drive while I am booted in Mac OSX on the Solid State Drive?

If that's not possible, as a last resort, then I could have Mac OSX installed on both drives, and when I need Windows, just boot from the traditional drive right?

 

Could you use boot camp, install Windows on the 320GB drive, and have the Parallels application installed on the SSD? I don't know about physical drives, but having Windows on one partition and Parallels on another works for me - but that's if the drives are set up using boot camp.

 

It appeared that using the bootcamp partition limited Parallels functionality, so I didn't go the bootcamp route (as I don't need to load Windows natively from bootcamp), so just using parallels for Windows. I just would like to use Windows on my traditional drive instead of the solid state, so I don't use up the Solid State Drive's storage for Windows which I use infrequently.