Vista Boot Camp Partition not seen by Parallels

I just got Parallels 4128 for my new Macbook Pro and haven't gotten nothing to work at this point. The reason I purchased Parallels is to make it work with my Vista (Ultimate) Boot Camp partition (1.3) without the need to create two partitions (needing the native speeds of Boot Camp on occasion). When I follow the Custom installation option and then select the Boot Camp option, it simply leads me nowhere and cannot select the Boot Camp partition as it should, not completing the installation of the VM. The Boot Camp boot works fine and has the latest updates. I am running Tiger 10.4.10 on a Macbook Pro 2.4Ghz (santa rosa).

Please help as I am quite disappointed with my purchase thus far.

Thanks!