Best route to upgrade uninstalled version 4 to 5?

I ordered Parallels 4 Switch to Mac edition (includes data transfer cable) on Tuesday night. As of this morning I have an unopened box with Parallels 4 switch to Mac edition and a brand new MacBook Pro.

I believe that I qualify for a free downloadable upgrade to version 5, but I'm not sure what's the best way of proceeding.


I see my options as:

1) return Parallels 4 Switch to Mac, and buy Parallels 5 without the data transfer cable. I would then transfer data via ethernet (which Parallels claims is slower than the data cable).

2) Skip installing version 4, Download the version 5 upgrade, and directly install version 5. (Will the install work without the previous version installed? If it can't find the previous version will it ask for my version 4 serial number as proof of upgrade eligibility?)

3) Install version 4, then apply the version upgrade. Hope that I never have a disk crash, because I will need to repeat this process if I ever need to reinstall.

4) If the data transfer cable doesn't work with version 5, I need to install version 4, transfer the files, then upgrade to version 5 (this seems like too much work).


Ideally, I'd like to go with option 2 - just install the downloaded version 5 upgrade, and transfer the data with the version 4 cable. But I haven't been able to find someone who can tell me if this will work.