Welcome to the Forums, enjoy ur stay
I have a Black MacBook, and I run Windows XP through Parallels and it runs really good with no major issues. It took a little less than an hour to install the whole deal with Parallels the install wizard works like a charm.
Concerning Adobe, I personally don't use that but, I use quite a few programs through Win XP via Parallels and they all work beautifully, so I'd say Adobe will do just the same.
You'll also find that some folks around here like to run Windows through Boot Camp, but (don't quote me on that tho) Boot Camp doesn't support Vista but I am 100% sure that Parallels DOES.
Hope that helps.