I'm running Parallels 5 (latest version) with Windows 7 (64 bit) on a late 2009 27" iMac. Windows 7 was installed in Boot Camp, and I've told Parallels to use the boot camp partition. Parallels itself launches very quickly (if I launch the program without starting a virtual machine). But booting to my Windows 7 virtual machine takes FOREVER (sometimes up to 10 minutes). I have iStat menus installed and the hard drive read speed is very slow when the virtual machine is loading. Once everything is booted, Windows 7 runs fine unless it has to access the hard drive. It's not a memory problem as I have an 8GB system and have dedicated 4GB to Parallels (4GB to Parallels and 3.5 GB to Windows 7).
Everything that is loaded into memory in Windows 7 is fast. I can even play games and the GPU runs very well. The game will take forever to load, but once it's loaded, it runs fast. So I'm positive this is a hard drive and/or file access problem. I have read elsewhere that perhaps the problem is because of lack of Boot Camp drivers for Windows 7. But I'm not sure why this would be causing slow HD access. Could be a HFS/NTFS issue of some sort? Again, I see the HD light blinking the entire time (in the Parallels status bar in the virtual machine window) Windows 7 is booting, but the actual read speed is very slow (1MB/sec or less at times).
Strangely, there have been a few times (probably less than 5% of the time) where Windows 7 starts very quickly, so I know it can be done. But something is bottle-necking the hard drive and I've made sure nothing else is accessing the HD while Windows 7 is booting, and there is plenty of memory.
Any other ideas?