Using Parallels to run JCreator

Hello,
I have a new MacBook 2.0 Core Duo with 1 gig ram.
I am thinking about using parallels so that I can boot into Windows and so that I can use JCreator for Java programming.
(This is required software for my class)

Can you tell me if I can expect good results with with the set-up and amount of ram.

Also, I have 3 MAC's, do I need a license for each one? If so, do they sell bundles?

Thanks,
Jay