I had no idea that mouse speed was normal before Parallels Tools was installed!
Certainly the multiple mouse pointers is annoying when running without the Parallels mouse driver.
And yes, we can confirm the slowness.
For example, scroll the mouse left/right with 1600x1200 resolution in the host OS, maybe 1024x768 in the guest and center that window on the host OS desktop. The mouse slows down noticeably when it goes through the VM session.
Setting the Windows guest mouse speed to max did not fix it... still noticeably slower than Linux's mouse.