Neeeeever use Parallels to update your OS. Completely bricked my Pearl when I tried that some time ago. Try Boot Camp. Works flawlessly for me.
Posted from my CrackBerry at wapforums.crackberry.com
New version of Parallels is much better than what you may have been using. Just released about a month ago. Haven't had any issues with it and it now recognizes usb (which it didn't do in previous versions) so I think you may be able to do it without issue.
It couldn't connect to some Java thing that's required to update in Parallels. I looked it up and found that a whole lot of other people using Parallels found the same thing. So I had to pull the device halfway through the update. Not good.
I haven't updated to .75, but I did re-up my .65 several times using VMWare Fusion 2.0.1. just fine.
spangler07, you warned everyone to "never" use Parallels to update. Can you give us some more info on what program and version you were using? Do you have any links to the info you were referencing?
I have a new MacBook Pro, with Parallels, and I just updated to .75 tonight, worked fine for me. The only thing that scared me, is that it says "connecting to device" and it took my phone literally 10 minutes to restart. I was definitely getting a little nervous there... But now I am good!