Is it now safe to install Parallels 3?

OK, I partitioned the hard drive with BootCamp, and Installed Windows XP Professional. I downloaded and installed the latest BootCamp update software changing it to the latest version of 2.1. I then installed SP3.

Is it safe to install Parallels 3 now? I want to ensure I can access the windows partition via bootcamp AND parallels. Reason being, sometimes I want full system resources (games), other times I just want to check something quickly.

Also, would it be better to create an entirely new partition just for Parallels?

Thank you in advance for your help.

 

Use build 5608, if everything is done correct, there shouldn't be problems