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I had/have the same problem with version 3036. Installed version 3038, but then Coherence was disabled and I couldn't enable it (grey).
I renamed the Parallels folder with version 1970 to Parallels1970 before I installed version 3036. After the installation I got a lock situation...
Wow, I'm very impressed. I absolutely love Coherency. Wish: I would like the Virtual Machines Catalogue keep in alphabetical order....
I still had the problem of freezing the whole system with version 1898 RC. After I logged in with the shift-key pressed, Parallels worked...
I have the same problem on my Mac Pro (2.66 MHz, 2GB memory) Everytime when I boot my system and I try to use Parallels it freezes my Mac Pro....