I just switched back to Mac a month ago, and found that my Lexmark X8350 didn't have any Mac drivers--no gimp-print options, nada. So I hoped Parallels would let me use it--but the 1970 build never recognized any USB connected devices. And since I couldn't make the Lexmark work on the Mac OS, Bonjour was not a solution. Reading about the USB fixes in the beta 3120, I installed that. Now Parallels saw the Lexmark through the USB, but Windows would not. I tried a bunch of things, but ended up erasing the Virtual Machine and reinstalling Windows XP with SP2--and now the printer is recognized and everything works. It may have been solved by the clean install--or it may be that my first install was with XP Home Edition and the new install was with XP Pro. In any case, the printing capability, combined with the new drag and drop functionality between the Mac and Windows OS's makes life much easier.
FWIW, I suspect that it was the clean install. The difference between XP Pro and Home wouldn't seem at all relevant to whether a USB printer was recognized or not by the OS.