Parallels noob question

Hey guys..great forum. I am looking to buy a MB (not pro) next week and I think I would be using parallels for some windows programs. I had a couple of questions about parallels.
(1) i know parallels make a virtual windows pc on mac by alloting some RAM and processor to windows. But if you close parallels, is that RAM and processer returned to mac, or does that still stay blocked.
(2) Secondly, how about the files and folders. Is there seperate files/folders for mac and windows, or do they share the same files. I wanted to know this because if u download something using torrents in windows, can u still use those movies/music on mac platform.
Sorry if these questions are repeats.

THanks in advance.

(1) Once Parallels closes, it doesn't use any processor power. The memory that was used registers as "inactive" but it is still available for any new processes.

(2) You create a shared folder (it looks like a network folder) and both OS X and Parallels can access them.

ToddG said:

(2) You create a shared folder (it looks like a network folder) and both OS X and Parallels can access them.

Click to expand...

...and to add to that, the new version coming in the next few months allows drag and drop between the Mac desktop and the Windows desktop. It's very slick.

Any registered user can download and use the beta Release Candidate 2, which is quite stable, directly from Parallels' website.

thats awesome..can't wait to get my hands on the MB...thanx for the quick reply guys