Parallels – Boot your physical Windows partition

Sherry Haibara has found a way to boot physical Windows partitions in Parallels,
running inside a MacOS X86 install! Congrats! Here is the tutorial:

Get the latest Parallels beta here
Open Parallels and choose to create a new virtual machine.
It’ll ask you what HD do you want to use. Choose Boot Camp.
Continue the setup, but do not run the Virtual Machine.
When finished, close Parallels.

Use a Text Editor to edit your virtual machine configuration file (*.pvs).
Find the line that says:
“Disk 0:0 image = Boot Camp” and replace it with this
“Disk 0:0 image = Boot Camp;diskxsy”
where diskxsy is your Windows/Linux/Other OS “Boot Camp” disk.
disk0s1 is valid for instance.

Save and exit.
Start up Parallels and launch the Virtual Machine. Enjoy!

source: InsanelyMac