Shared Network will not work

I am running snow leopard 10.6.1 with Parallels 4.0.3846. I upgraded today but "shared networking will not work. Bridged Network will work. I really need shared to work. I have read multiple threads and tried -

uninstall/reinstall
parallels tools uninstall and reinstall Nothing has worked. Has anyone else encountered this problem?
Thanks

 

Please switch to Shared networking and send a problem report using menu "Help" -> "Report a Problem", then post here the report ID

 

Shared NEtworking will not work after 3846 upgrade

The IR number is 546998. Thanks my macbook pro is extremely slow since the upgrade along with shared network not working, never receives an IP address.
Thanks

 

For some reason Shared Networking Settings were reseted to zero-values. Please click menu "Parallels Desktop"->Preferences->Networking and press the "Restore Defaults" button

--

About slowness.. I'm not acquainted with this part very much, so just general recommendations (don't treat them please as official parallels recommendations):

I'd not recommend to give all Mac CPUs to the VM. So, I'd decreased number of CPUs for VM from 2 to 1

Also, it is worth to try to reduce memory in VM from 2876 to say 1536