Does Parallels Workstation offer SMP support?
Parallels Workstation runs normally on SMP systems. Each virtual machine currently represents an Uni-processor system; SMP support inside guest virtual machines is in scope for future versions of Parallels Workstation.

Is it possible to convert a third-party virtual machine to a Parallels virtual machine?
You can use disk image save/restore software like Acronis TrueImage or Norton Ghost to export the operating system from third-party VM and import it to Parallels. An “out of the box” conversion utility is in scope for future versions of Parallels Workstation.

Are there any limitations on running Parallels Workstation 2.2 on CPUs with HyperThreading support?
There are absolutely no limitations on running Parallels Workstation 2.2 on such CPUs.

Does Parallels Workstation 2.2 support 64-bit platforms?
Parallels Workstation 2.2 runs successfully on 64-bit platforms if a 32-bit primary OS is installed on it. Support for 64-bit primary and guest OSes is in scope for future versions of Parallels Workstation.