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Hi @SteveL3I am running Parallels Desktop v11 after upgrading from v10 for Mac and am also trying to install Windows XP.
I am also getting the same IRQ_LESS_THAN_OR_EQUAL error during installation and a blue screen of death. MAC OSX is El Capitan 10.11.6.
I have had Parallels Desktop running on my Mac since version 5 and have never had any issues until now. I have set memory at 4 Gb from the default 2 Gn hoping there might have been a limitation but nothing seems to resolve the issue.