I have a suggestion. It would be very nice if there were a setting for choosing which device the sound emulation utilized. In my case, I have a USB sound adapter that goes to other equipment I'd like to access from windows. If I could set parallels to use that adapter for it's sound emulation, freeing up the built in audio for mac stuff, it would be sooooo nice.
Myself and the customer sitting next to me now both want this very badly, as do all people who want to run ATCSmon in Parallels. Actually, really we want multiple iMics in a single Parallels VM.