"host only" network will give you a virtual ethernet interface which connects your real machine and the virtual machine together. Normally your real mac machine will get the x.x.x.1 address and your VM will get x.x.x.2 or higher. Internet sharing is a feature provided by OSX and can be enabled in the "system preferences"-->sharing-->internet. It will make your macbook pro work like a router and pass your VM network packets to the internet. I think there is a more detailed description in the beta6 release announcement.
PS:
I just found this portion in the FAQ post:
Q: Is NAT possible to use with the VM?
A: Not yet. But since beta6 it is possible to use Mac's standard "Internet Sharing" feature to be able to NAT the guest OS. To make it working,
- Go to Parallels Workstation->Preferences->DHCP and set Scope end address equal to Scope start address (10.37.129.1 by default).
- Go to Apple->System Preferences->Internet & Network Sharing and share your network connection with Parallels virtual adapter (usually, en2).
- Set the VM network connection type to Host-only networking in the Network Adapter properties.
- Start the VM. It should obtain the IP address automatically.
I think basiclly that is the process you need to follow. A reboot maybe also needed from my exp.
Last edited: May 19, 2006