The team over at Parallels has released Beta 2 (Build 3094) as an update to their most recent beta. In this version USB 2.0 support has been added as well as many features being upgraded. Here is the list of new items from the Parallels site:

• NEW! USB 2.0 support - “Plug and play” popular USB devices like external hard drives, printers, and scanners, and use them at full native speed.
  • NOTE! Current Build 3094 doesn’t support isochronous devices such as web cameras, microphones, etc.
• NEW! Full-feature virtual CD/DVD drive - Burn CDs and DVDs directly in virtual machines, and play any copy-protected CD or DVD just like you would on a real PC
• NEW! Improved Coherence mode - The groundbreaking feature that lets you run Windows applications without seeing Windows just got better! Now you can:
  • Place Windows applications on your Mac desktop or in your application dock. Just click to launch them directly from OS X!
  • Use Command+tab to cycle through Windows and Mac applications simultaneously, and “hide and show” Windows applications just like you would with Mac applications
  • View the Windows Command Console in Coherence mode
  • Use Coherence in Windows 2000, Windows 2003, Windows XP and Windows Vista!
• NEW! Better Boot Camp support - Using your Boot Camp partition in Parallels Desktop is now easier than ever. Beta2’s Boot Camp support includes:
  • Full support for FAT32 and NTFS partitions
  • Easy offline configuration. Simply tell Parallels Desktop that you want to create a virtual machine from a Boot Camp Partition and click start. No complicated set up required!
  • No need to re-activate Windows each time you switch between Boot Camp and Parallels. Activate Windows only once inside Parallels and work in both environments
  • IMPORTANT! It is not possible to suspend a Virtual Machine that is connected to Boot Camp as it could result in an unstable system.
  • VERY IMPORTANT! Beta1 (build 3036) users must boot natively into Boot Camp and uninstall Parallels Tools for Boot Camp prior to running it in Beta2 (build 3094).
• NEW! Parallels Transporter Beta2 bundled - migrate your real Windows PC, or existing VMware or Virtual PC VMs to Parallels virtual machines! Learn more about Parallels Transporter Beta2 >>
  • IMPORTANT! Beta1 users MUST upgrade their Transporter package on their Windows source machine before using Parallels Transporter in Beta2. Failing to do so may result in a system crash and loss of data

With the updates to Coherence mode, you can also now add Windows Applications to the dock that will automatically start up on Coherence mode by simply following the steps below:

• Open your Windows applications within the Windows environment via Parallels.
• Start Coherence mode which will add the Windows application icon to the OS X dock.
• CTRL + Click on the Windows app icon and select ‘Keep in dock’.

Download Beta 2 here (mirror)