Parallels takes 3-4 bounces on my MacBook (2Ghz, 2GB, upgraded 7200RPM drive) to launch. That seems pretty slow, and I imagine it's mostly just loading the last configuration file on launch. I realize that it's a Qt application and not a native Cocoa app, so maybe that's the problem. What are the chances that the app's GUI could be done in Cocoa? BTW, sometimes apps are slow on initial launch, and then once cached they load fast the second time. But Parallels isn't like that. It's almost always 3-4 bounces.
Only takes 1.25 to 1.75 bounces on my Linux AMD 2mhz 1gb 7200rpm system. Maybe you should upgrade. (I think - is1 bounce = 1000 ms?)
Boy, I'm astonished at how fast the whole WinXP boot-up sequence is on my 2GB MacBook Pro. Yes, it takes 2-3 bounces to start, but XP is up and running in 5-6 seconds. I've never seen a real-life computer start up that fast (though I've also never booted the MBP with Boot Camp ;-).