At your own risk, PDM5 is not supported anymore, in fact its support cycle ended before Windows 8 was released (and the last version precedes Win8 previews by many months), Parallels Tools in v5 don't support it, and Windows 8 introduces many differences from previous Win versions, specially at the user interface level, so many things will just not work. Most likely it will be a frustrating experience.
http://kb.parallels.com/114604
Last edited: Oct 27, 2012