Ben Rudolph, Director of Corporate Communications at Parallels, recently updated everyone on his blog site about the latest update to Parallels Desktop for Mac product.  He writes:

Just a quick heads up that the Leopard Update for Parallels Desktop 2.5 (Build 3224) is now ready for download. The previous 2.5 builds should have been working fine for you under Leopard, but this new build smooths out some of the rough edges.

Get it here, and get the new Transporter build here.

Read more about Parallels from Ben, here.