Parallels released the production version of their virtualization software for Intel-based Macs. I downloaded it this evening and took it for a test drive using a Windows XP SP2 Guest OS I installed under the earlier Release Candidate 2 version. It worked fine as expected. For those of you who have not seen Parallels Desktop for Mac shift between a window on top of Mac OS X to full-screen mode, I created a short video to show you what it looks like.
Sorry for the slightly shaky Blair Witch cinematography style :-). I just held the camera with one hand and operated the keyboard to switch between window/screen modes with the other.