Install fails / Parallels 5 on a Mac + Win 7 + CS4

Question

I'm going crazy here. I'm trying to install CS4 to Windows 7 on a Mac using Parallels 5. Installer stops at the very beginning.
Here's the log file. What's wrong and any ideas how to fix the problem? All help will be greatly appreciated!
*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*
Installer Operation: PayloadInstaller
*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*
Request to install payload
Manipulating bootstrapper.  MSI version check enabled.
Source media path: \\.psf\Adobe CS4 Design Premium Disc 1\Adobe CS4
Current MSI Version:5.0.7600.16385
MSI service already meets minimum version: 3.1.4000.2435
Setting AFLPath C:\Program Files\Common Files\Adobe\Installers\55230b0b70661df0f212e88f0b655f7
Installing payload
Attempting to install package from:\\.psf\Adobe CS4 Design Premium Disc 1\Adobe CS4\WinBootstrapper.msi
[    2204] Sat Jan 23 12:25:24 2010  INFO
Command line arguments:  ADOBE_SETUP=1 MSIRESTARTMANAGERCONTROL=Disable  PROPERTY_FILE="C:\Users\Tommi\AppData\Local\Temp\adb1629.tmp"
1: 0 2: 0 3: 1252
1: 2 2: 0
1: 2 2: 1
Installation result: 2
[    2140] Sat Jan 23 12:25:24 2010 ERROR
Log of: object
isRunning {string}: 0
percentComplete {string}: 100
message {object}: [object Object]
Log of: object
    code {string}: 2
    args {object}: [object Object]
Log of: object
        code {string}: 2
        errorText {string}: File cannot be found.
Bootstrapper failed to install
Log of: object
isRunning {string}: 0
percentComplete {string}: 100
message {object}: [object Object]
Log of: object
    code {string}: 2
    args {object}: [object Object]
Log of: object
        code {string}: 2
        errorText {string}: File cannot be found.
[    2140] Sat Jan 23 12:25:30 2010  INFO
*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*
END - Installer Session
*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*

Answer 1

Win 7 on Mac with Parallels leaves a lot of variables to contend with. All I can tell you is that everything works wonderfully with Boot Camp. Have you checked Parallels forums and newsgroups to see if anyone else has experienced this?
Bob