I'd have to ask first, why you need to have both a VM and bootcamp, and if you do need both, do you really want to run both from the same set of bits?
FWIW, I have a bootcamp installation in a 5 GB partition to run the one app I have that won't run under Parallels, and another Windows installation under Parallels for everything else. I don't want the two to be the same.
If you don't absolutely have to have bootcamp, why don't you just recover the space and install XP in a VM and have done with it? Most of the problems people are complaining about are related to trying to use the same set of files in both environments, so if that isn't necessary, problem solved -- just don't.
If you do absolutely need to run native and in a VM with the same set of files, then note that with beta 3, you don't need tools for bootcamp, and without those old tools, you can install and use MacDrive which will allow you to access your Mac partition while you are booted into Windows (in bootcamp, not via Parallels). This, combined with shared folders, may allow you to use a smaller bootcamp partition, since 100 GB is a small disk (in my view anyway). And of course, if you are running Parallels doing anything serious, one gig of RAM isn't enough. One and a half is barely adequate, and two is much better.