Parallels does have a quick install mode were as long as you have to legit copy of XP or Vista you only need the CD key for the OS. it will not work with with a hacked CD key. It takes longer I think, as it will download the OS. I have not done this. As I am using Windows in Boot Camp. I can say though if you even want to use Ubuntu 7.04, VMWare will be the best bet, it just loads easier. VMWare will also let you load an OS from Boot Camp. with VMWare I can load Vista with out reboot, even though Vista is in Bot Camp. Right now I am only using Parallels to run NeXTStep, and thats just for the hell of it.