I have successfully installed the latest version of Parallels Desktop, just released. (version 3.0 r4560).
Zbrush runs much better, snappier, and with fewer hangs. And this is on a lowly MacBook with only 2 gigs of Ram.
Just an FYI for my fellow Zbrushing Mac users out there. 
And on another note: for those who have not yet jumped on the ZBrush bandwagon, DAZ3D is now a reseller for ZB3 @ $375 (plus $29.95 for Platinum Club membership for those who arenāt already members).
Iāve run into a couple of problems with ZBrush 3 and Parallels. First, when you upgrade Paralells, it updates the virtual machine. This causes ZBrush to think it has been installed to a new computer and you have reactivate it. Second, certain hotkey combos do not work under Parallels. For example, try using ctrl+shift to hide geometry. Due to these problems, I plan on using ZBrush 3 only under bootcamp until the Mac version is released.
Thatās the safest bet. Also, you get maximum Ram usage under BootCamp.
I should have been a bit more specific in my first post. I installed Zbrush 3 on the BootCamp partition. This registers it to a real device. Then I ran Parallels with BootCamp. It asked for my Zbrush Serial Number again but it works fine. With Parallels I can follow the PDF docs or the online docs (or both) on the Mac side while using Zbrush on the WinXP side, all at the same time.
Parallels is just a convenience. Especially when running it with Coherence turned on. Then all pc apps run on the Mac seamlessly, as if they were Mac apps. Best of both worlds.
With Parallels you can access the web just on the Mac side and thereby protect the WinXP side from exposure to the Internet. Downloading a pc .exe file on the mac side is easier, and you can launch it from a shared mac folder directly into windows. You can change the WinXP default Browser and Email apps to Safari and Apple Mail, and the winxp event triggers the mac software to launch. very cool.
Booting with BootCamp, itās a real PC, so you loose the safety and protection of the Mac environment.
Iām finding ZB3 in Parallels 3 quite good now, very few issues, with acceptable performanceā¦
Bootcamp gives me a bit more kick but then youāre stuck with the boot/reboot issue. As my Photoshop licence is a Mac one Iām often found shutting down just to tweak something in PS. Itās a bit of a pain as I usually work with ZB/PS & Modo all openā¦
Iām preferring convenience over power at the moment to be honest, so Parallels is winning me over, i canāt agree more about staying within the safety of the Mac environment, I went into Bootcamp, saw a bunch of update this & update that, virus, malware pop ups, I then got deja Vu & a cold sweat onā¦
Hopefully not long until a Mac version is announce with a release dateā¦ 
Iāve had great results with both Parallels and VMware fusion.
In case you need the extra memory or CPU that VMware afford, Iāve put instructions for setup on my blog: http://www.lovecraftforest.com/blog/2007/07/06/using-zbrush3-in-vmware-fusion/
-K
Is there any fix or workaround for the issue with the hotkeys (ctrl+shift) in parallels? Not being able to select polygroups or show/hide parts of models is annoying, and I donāt want to use bootcamp. When I ctrl+shift then click it pops the draw menu, and when I drag it does not select. The cursor changes to the correct icon, but no workie.
Sometimes, though, it does work, it gets stuck in the proper mode, but I canāt seem to reproduce it. Any ideas?
In Parallels preferences, you can set the Parallels hotkeys and the ctrl+mouse to something else so they donāt interfer with ZB.
Essentially Parallels is trying to grab your keys so that ctrl-click (single button mouse) is the windowās right-click. If you have a multi-button mouse or better yet, a tablet, you donāt need Parallels to do this for you.
-K
Thanks Kerwin, that did itā¦sorry for the double post.
This configuration works for meā¦
Is this Parallels or bootcamp software works on G5 PPC or intel macs only?
Parallels and Bootcamp only work on intel Macs.
im using parralels on my mac and i have 3 gigs of memory and it is really laggy. does anyone know why that would be? is there a way to make it so that parralels will use more of my memory?
The current beta of Parallels will use 2GB per VM. You may want to install a copy of the free utility MenuMeters to see whatās going on with your memory: http://www.ragingmenace.com/software/menumeters/. Make sure virtual memory preallocation is turned on in Parallels preferences. Once you have things balanced out, try using the VM in āFull Screenā only. Running in a window or coherence will become lagging as things swap back and forth between Windows XP and OSX.
Another thing to look at is to check the Windows System performance control panel and see if the virtual memory for Windows isnāt too choked.
-K
thanks a lot ill try that out!