Our QA Team is currently testing it's compatibility with Parallels Desktop. We'll inform you if any serious problems will be found.
Seems ok I have installed it anyway. Have run under Bootcamp and Parallels for a day. No problems found.
I would recommend holding off on bootcamp 1.4. I installed yesterday, and all seemed fine... today my startup was very slow, and I had few error messages on the first few boots. I rebooted through Bootcamp and then went back into Mac with Parallels, bootup was slower than usual, and had my hard drive chugging. It works, but is ....just a bit "quirky". I am sorry I did the upgrade, as I am afraid I may have inadvertently made a mess of things.
Installed bootcamp 1.4 and use it with windows xp pro on my macbook pro 2.33ghz with 3 gigs of ram. AFAIK, everything is fine.