Right, well I upgraded and it does seem snappier. So far all my previous USB issues seem to be resolved, but now I get random system locks. I mean it locks up OSX! Mouse doesn't move, frozen display, but no kernel panic. I'll try the procedures outlined in the stickies, but I thought someone at Parallels should know.
Opening every game you have one after another and crashing out of Direct X half the time tends to do bad things to XP, even if no other OS is running at the same time. The freezes I have noticed are mostly limited to the XP environment and clear themselves after a minute or two. It gets dicey when my USB mouse and keyboard both stop talking to the Mac while XP makes like Robbie the Robot after being given a conflicting command.
If history is any predictor of the future I'd expect minor releases pretty frequently for the next month or two. That is how Parallels handled version 2. They kept releasing bug squishing and minor feature enhancement releases very frequently until they had the worst bugs fixed and finally deferred support for additional features until version 3.