Derek shows us the way to run IE7 & Firefox in “OS X Parallels Desktop users will coherence mode”. rejoice knowing that the latest beta build of Parallels includes a slew of new updates including the ability to resize the virtual machine window (with resolution adjusting automatically) and my personal favorite - “coherence”. I am currently running the latest beta build and must say, VMware has some definite competition on their hands. See the screenshot below which shows me running Windows applications outside of the Parallels desktop making applications a part of the OS X workflow - easily accessible with CMD + Tab without needing to bring Parallels to the front.

No more waiting for CrossOver to support IE7 installations. Parallels definitely proves that they are continually developing and improving the Windows experience on Intel powered Apple hardware. Aditional beta features, discussion, and download can be found here.
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Parallels, IE7 & Firefox, Coherence Mode, OS X Parallels Desktop, CorssOver