Parallels today released Parallels Desktop for Mac beta 2 which features:

• USB 2.0 support – “Plug and play” popular USB devices like external hard drives, printers, and scanners, and use them at full native speed.
– Current Build 3094 doesn’t support isochronous devices such as web cameras, microphones, etc.

• Full-feature virtual CD/DVD drive – Burn CDs and DVDs directly in virtual machines, and play any copy-protected CD or DVD just like you would on a real PC

• Improved Coherence mode – The groundbreaking feature that lets you run Windows applications without seeing Windows just got better! Now you can:
- Place Windows applications on your Mac desktop or in your application dock. Just click to launch them directly from OS X!
- Use Command+tab to cycle through Windows and Mac applications simultaneously, and “hide and show” Windows applications just like you would with Mac applications
- View the Windows Command Console in Coherence mode
- Use Coherence in Windows 2000, Windows 2003, Windows XP and Windows Vista!

• Better Boot Camp support – Using your Boot Camp partition in Parallels Desktop is now easier than ever. Beta2’s Boot Camp support includes:
- Full support for FAT32 and NTFS partitions
- Easy offline configuration. Simply tell Parallels Desktop that you want to create a virtual machine from a Boot Camp Partition and click start. No complicated set up required!
- No need to re-activate Windows each time you switch between Boot Camp and Parallels. Activate Windows only once inside Parallels and work in both environments

More info and download link here.