On the Apple developer membership and just installed Mountain Lion. Parallels 7 fails to start with following messages. "Your virtual machine may run slow because virtualization support is disabled on your Mac. For optimal performance, please enable hardware virtualization support in your Mac's firmware." Hit OK then. "Unable to load the Parallels driver. Restart your Mac and try again." Installed latest Parallels update, no change. MB Pro 15" late 2010. 8GB Ram, 256G OWC SSD.
Did you see this thread: http://forum.parallels.com/showthread.php?t=257398 Looks like some folks have got it working.