I've suggested this previously via other routes, however I thought that I should recommend this here for more visibility. Parallels should run as an icon in the upper left menubar area such that it is more of a system service in appearance rather than an application. This could be seen as following the example of VirtueDesktops, MenuMeters, MenuCalendarClock, and so forth. Now, having said that, it should also show the Windows menubar that appears at the top of each (most) applications in the Mac OS X menubar. We need a tighter integration in terms of the feel of Windows applications more towards Mac OS X so that we can use the Windows apps as we normally use Mac OS X apps in both look and feel and keyboard bindings. There are a lot of kinks to be worked out of Coherence mode to make it truly cohere to Mac OS X look and feel.
Menubar respect from Windows apps Another thing that would be useful is that if the Windows applications would stop moving above the Mac OS X menubar and therefore behave more like Mac OS X apps. It simply feels unnatural to have them clip above the menubar as the currently do in Coherence mode.
unified menu bar mmhh.. sounds interesting but i am inclined to say that windows' window server api does not provide a hook to read an application's menu bar externally. this would be a requirement for such functionality.