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I prefer VMWare fusion. Here is a pic of OS 10.5, 10.6, 10.7, Win7, Win 8, and Haiku running on VMWare Fusion on 10.7.
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I've used both Parallels and VMWare. I prefer VMWare - in part because Parallels has worked so hard to integrate the guest and host OSes. For my purposes virtualization is better served by having discrete VMs not seamless access to files on my desktop...
It depends on your purposes... If you need to use and interoperate with Windows on your Mac then Parallels is probably the way to go. But if you need to actually virtualize multiple operating systems for testing or other technical needs then you'll likely find VMWare better suits your needs - esp. since you can easily import those VMs into the more enterprise grade versions of VMWare.
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