I'm having this same error now. I have Boot Camp installed and upgraded from Parallels version 3 today. At first I was able to use the Boot Camp volume just fine from Parallels 4, but after rebooting into actual Boot Camp (which still works by the way) and then rebooting back into OS X Parallels no longer asks for my Administrator password to allow the Boot Camp volume to be accessed from Parallels and I get the "Can't access IDE drive 1" error along with the above referenced error dialog window. Very latest Boot Camp version, Mac OS X 10.5.5.
Last edited: Nov 11, 2008