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Hello briannmcg,
Parallels Desktop 8 and Parallels Desktop 9 for Mac are compatible with Mac OS X 10.9 Mavericks
If you are running Parallels Desktop 8 for Mac, please make sure that you are running the latest build of Parallels Desktop 8 ( http://kb.parallels.com/111603 )
If you are running Parallels Desktop 7 for Mac, you can purchase the upgrade version of Parallels Desktop 9 http://www.parallels.com/products/desktop/ and
once after installing Parallels Desktop 9 you will be able to access your Virtual Machine.
NOTE: After upgrading to Parallels Desktop 9 you do not need to re-install Windows or create a new Virtual Machine.
You can successfully use your existing Virtual machine.
IMPORTANT: Upgrades are possible for Parallels Desktop 7 and above.
If your previous version key is for Parallels Desktop 6 or an earlier version, please visit the Parallels Online Store to purchase a full license for
Parallels Desktop 9 for Mac
It looks like 10.9.4 is getting close to release so I guess the good news is that getting 10.9.3 running will soon be less of an urgent problem.
No. 10.9.3 added support for 4K displays and that's what seemed to have broken Parallels. When 10.9.3 is about to launch the GUI, it probes the video drivers to see if they support the new resolutions and the Parallel Tools video driver doesn't correctly handle this new call and hangs.
Since this 4K support will be in all versions of OSX from 10.9.3 onward (including 10.10), the 10.9.4 update won't fix it since it's not broken from the Apple side.
Parallels is reportedly now beta-testing Version 10 of Parallels Desktop (which of course will be a paid update). Since it's pretty clear what the problem is with 10.9.3 onwards, and Parallels doesn't seem to want to fix it in the current version of Parallels Desktop, I'll bet they're intentionally holding off on the fix so they can tell customers "Buy the new Parallels Desktop 10 -- now with OSX 10.10 (Yosemite) support!".
Of course, the new version will also fix the issue with 10.9.3/20.9.4.