TCP/IP settings with bridged networking

How do I get my mac to use one static IP on one ethernet device and my guest OS to use a second static IP on the second ethernet device using bridged networking?

I have a mac pro with 2 physical ethernet devices (Ethernet 1/en0 & Ethernet 2/en1). This is in an office environment and I have been assigned 2 static IP addresses, and would like to use one for mac and the other for windows in the VM. I need to use bridged networking so other windows machines on the network can see the windows VM as a network resource.

Here's what I have tried...

In system preferences on the mac...
Ethernet 1(en0) is set to a "manually configured IP address". (x.x.x.41, for mac use)
Ethernet 2(en1) is set to a "manually configured IP address". (x.x.x.48, for pc use)

In the guest os (win xp) networking is set to use my second static IP address (x.x.x.48).
In parallels, I have networking set to "bridged -> Ethernet 2".

I get an error about 2 devices using the same IP and the guest is blocked from the network.

SO, I tried setting Ethernet 2(en1) on the mac from "manually" to "off" and still no network in the guest os. It reports "connected, acquiring network address." (Also tried the other DHCP options but of course thy don't work.) Also if I reboot the VM with this setup, I get "Unable to use the network adapter 1...." message.

I had this working before, but had a hard drive failure and while my mac backups worked fine, my VM was not backed up.

Version info...
Parallels 4.0.3848
Mac OS 10.6.3 B10D573
Win XP Pro v2002, SP3