VMWare Fusion 3 for Snow Kitten and Win7 came out last week, not taking long out came Parallels 5. It’s also fully 64-bit, with Windows apps that behave like native ones, including full multitouch gestures, and zoom.

Like Fusion, Parallels supports OpenGL 2.1 and DirectX 9 Shader Model 3.0 for the full Aero 3D interface and 7x better graphics performance than before. It also has a migration tool to move a PC’s info to your virtual machine. Performance-wise, it’s three times faster than before, supports 8 virtual CPUs and automatically pauses the virtual machine whenever no Windows apps are running.

The new Crystal mode promises to make “Windows completely disappear” so apps run feel completely native, with full support for multitouch trackpad gestures and the Apple Remote, with a persistent Windows apps folder in the Dock. Parallels 5 is out today for $80 for the full version or $50 for the upgrade.