Where do you store Parallels VMs? I created a folder structure under /Shared and have exempted all of /Shared from TimeMachine. I have a folder /Shared/VM/username for each user to store his VMs in. Any other suggestions? (I think a default location in ~/Documents or anywhere in ~/Library is not a good idea for Parallels, as 40 GB disk images do not belong in either folder!)
Andrew, if I need to share a VM, the Shared is certainly the most intuitive, unless you are pushing things off a network drive, in which case you probably want to create a share-point for the VMs. If you don't need to share the VMs, why doesn't the VM belong underneath ~/Library/Parallels? It's a neat and tidy way of keeping things under the hood for the average user.