Issues with Mac OS Snow Leopard, Bootcamp, Windows 7 64 Bit and Parallels 5

Hi everyone

I am having no shortage of drama trying to get the following configuration working.

I have a brand new Macbook Pro 15" running Snow Leopard. I installed Bootcamp using a even split partition, 50% Mac OS and 50% Windows 7. I then setup Windows 7 64 Bit Home Premium no dramas. I can boot into Mac OS without troubles, and Windows 7 vice versa.

My problems occurred with Parallels 5. My goal has been to not to install a second virtual machine instance of Windows 7, and instead leverage my Bootcamp Windows 7 partition under Mac OS and Parallels.

I've followed the following guides on how to set this up without success.

http://download.parallels.com/desktop/v5/docs/en/Parallels_Desktop_Users_Guide/22437.htm

http://download.parallels.com/desktop/v5/docs/en/Parallels_Desktop_Users_Guide/23112.htm
-
The root of my error Is I keep receiving the error message "Missing Operating system_" when I try to load the Bootcamp partition virtual machine. I've tried configuring this so many different ways and nothing seems to work.

I've attached some screenshots of the configuration and error messages i'm receiving. PLEASE HELP, this is SOOOO frustrating.

Thanks in advance

James
Please help.