Boot Camp, Parallels, Windows (?) questions, your help please...

Just got my new Mac Book Pro yesterday. (have to wait to get the right firewire cable to migrate data and start using, but should be able to do that later today)

I'd like to understand better about installing Windows, and using it. I will be needing Windows for only one certain project I'm getting ready to start. (a training class)

1) I've read the support articles and made a note of the versions of Windows that Apple recommends. I'd be interested to know what versions you all have had the best luck with. As I said, I only intend to use Windows when absolutely necessary for this one thing. (I was never so glad to leave Windows behind 3 years ago when I made the switch; pretty sorry I have to use it again now.)

2) If I'm understanding correctly, Boot Camp requires you to shut down and restart when you need to use Windows, and Parallels just opens in a new window. Based on this I'm thinking I'd rather use Parallels. Are there problems or issues with Parallels that I need to know about? (I'm a novice at computer knowledge)

3) If I do end up using Parallels instead of Boot Camp, does this mean that I install Windows with Parallels instead of Boot Camp? IOW, I just wouldn't use Boot Camp at all?

So, I would install Parallels first, then proceed with the Windows installation?

I can't tell you how disappointed I was to learn that Windows was required for this particular course of study.

Anyway, thanks for the help. Any comments, tips, suggestions appreciated.