I am having a similar problem. I have Vista Ultimate on a Bootcamp partition on a second drive, but Parallels 4128 doesn't give me the option of setting it up when I select NEW>Custom.
UPDATE:
It seems that I was confused by the setup procedure in the Parallels Guide. The guide uses two screen shots, the second of which shows the Boot Camp option. However before you get to this screen you have to specify which operating system and then how much memory to allocate, then you are brought to the screen which allows you to choose Boot Camp.
I hope this helps anyone else who may have been confused by the Guide.
Last edited: Jun 13, 2007