I have limited experience with Parallels and could not find my answer in any other post (or with google search) for what I think is a simple question. I need to wipe my Mac HD and want to make sure I understand the restore process before wiping HD. MacBook Pro running 10.8 and Parallels 7 running Windows 7. 1. When I do a restore of the .pvm, does it restore the windows OS and all apps as well? Or do I have to reinstall the OS and all apps? WHich means I need to have all the discs and licenses on hand. I also found another issue as I was preparing for this restore. 2. TM is not backing up pvm file. I do NOT have the checkbox checked in Parallels that says "do not backup". ANy ideas why this is happening? The Parallels folder is backed up but not the pvm file. NOTE: I manually backed up (simple copy and paste) the pvm file to an external HD so I think I am ok. Please let me know if this is not the case. Any help is appreciated.