How to install Windows XP on new iMac - Bootcamp or Parallels?

Hi
I'm very new to the Mac world. I just purchased a lovely new iMac.
I would like to install my Windows XP Professional (SP3) on to my iMac.
I purchased Parallels Desktop 5 for Mac and before I do anything, I want to know what I should do first.
Do I install the Windows disk through bootcamp first and then install Parallels Desktop 5?
or
Can I bypass bootcamp all together and install Windows through Parallels?
Any feedback would be greatly appreciated.
amatxilinda

Parallels 6 comes out on the 14th.
http://www.appleinsider.com/articles/10/09/09/parallelsdesktop_6_for_mac_to_launch_sept_14_with_80_newfeatures.html
If you will never want to run Windows natively, then you don't need Boot Camp. Otherwise, install first on its own partition, get it setup, then Parallels, and only then activate. Or reactivate. After you have Parallels Tools installed.
Really ought to check on Parallels forum.
http://forum.parallels.com/forumdisplay.php?&f=58
To get the hang of OS X, no matter level of expertise, even though Apple has their 101 Help and Switching, "Missing Manual for OS X" is excellent 900pg reference to get the most out of it.
http://www.apple.com/support/
http://books.slashdot.org/books/08/02/27/1551206.shtml
http://www.amazon.com/Mac-OS-Snow-Leopard-Missing/dp/0596153287/
Switching to Mac? not so useful.
http://www.amazon.com/Switching-Mac-Missing-Manual-Leopard/dp/0596804253/

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