I am unsure why the 3,2 key combo is not working for some but it does work for me.  Some users on the apple forums have issues with the 2011 MBA & Lion but others do not.  I would suggest trying again if you don't like terminal or messing with com.apple.boot.plist.  Try holding 3 & 2 immediately after clicking restart and holding until you see your desktop.  Either way though as long as you get into 32-bit mode it should work for now.
As for USB, there should be no issues.  The USB and network modules are separate and only the networking kext fails to load.  I just tested with my built in SD card slot and a SanDisk flash drive and they both work as in Lion.
I might try to mess around to get networking working tomorrow while the parallels team is working.  In the Lion DP it took them a while to get anything out so I'm not so optimistic for a quick fix from them.
	
 This, most likely, has nothing to do with Parallels and is probably a Windows issue.  Once a VM is started it is up to Windows to boot succesfully.  The Parallels installer probably just crashed (it happens) and left a driver halfway installed which when Windows tries to load on booting causes a BSOD.  Try Windows safe mode(F8 on startup) to uninstall a driver or reinstall Parallels Tools.
P.S. all my testing for now is done on a 2010 MBA.
					 
				
			
			
			
		 
		
		
		
			
			
				Last edited: Feb 18, 2012