Thanks, Tim. I'm in the camp of happy and successful with PD4, but facing a few (minor) issues.
In my case, the time from turn on to logon prompt for XP SP3 is very slow. During this time, the CPU for prl_vm_app is very high, often close to 200% and sometimes more (??). I'm using the terminal command "top -o cpu" to watch this. This one is a problem for me because one of the reasons I use parallels is for demo purposes and it now takes a lot longer to get into the demo that it used to.
Once I get signed in and the system gets up and running, the business apps perform nicely with what seems to be good performance. I have not noticed the painfully slow office apps that Shaun reports, yet my usage scenario seems similar to his. I have observed an occasional sluggishness to some office apps but it has not been consistent enough to really identify or report. I would have to say that once the system is up I am not seeing a slow system.
When would you like me to "report a problem" to capture the best data? During the slow startup phase? I could do that. Just let me know.
About a month ago, I made some very detailed timings of windows startup/logon, screen to screen navigation of one of our corporate website apps, and startup times for various office apps. At the time, parallels V3 on my powerbook pro was far superior to the other tools tested (VMWare on a comparable laptop running windows XP, Microsoft Virtual PC on a comparable laptop running XP, and Microsoft Virtual PC on a comparable laptop running Vista Business x64). I have those timing, so I can closely compare Parallels V3 to V4. I will make some tests with V4 and let you know the real differences.