Best windows version to use with Parallel 5 on iMac i5

I am purchasing in few day imac iMac i5 with 8GB RAM and want to run 3D software for design work to set up a virtual image. I have thought of using Paralles 5. I just want to know what will be the best version of windows to get of my new machine. I have read on some post difference between 32 bit and 64 bit windows version and I found that 32 bit does not support Ram more than 4GB. I am just worried about the performance issue because there are not 64 bit drivers for all devices. If anyone is having detail information about this then I would like to advise on a specific version of Windows.

I would suggest you to install windows 7 home premium 64 bit natively that’s Boot camp. Pro and ultimate have couple of features but does not have the one which you need. Parallels can then use and you will be able to run 3D and more intensive software natively.

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I have search for this problem on Internet and read on some forum that there are trouble running windows 7 with parallels after having installed it through bootcamp a sit says that the activation key is not valid theoretically because parallels and bootcamp use dissimilar hardware.
I'm scared to install it in bootcamp if I'm leaving to have this trouble. I clearly wish for the alternative for both but if I have to decide I will go with parallels. Hoping to get an valuable suggestion to resolve my issue.

As per my experience I do not think that you will have any issue with in order to run windows 7 installed on Bootcamp to run under parallels 5. Process intended for phone activation is extremely simple and easy. The phone number you need to call is dependent on where you live.
make sure before going ahead with Paralles: If you have previously installed the Windows 7 version 64 bit, I would powerfully advise you to make sure that you have updated your Bootcamp to version 3.1. When you update it to this version this will really help you to enjoy the real features of a 64 bit Windows systems on your Bootcamp partition. If still you are having doubt about this then I would suggest you to go to apple support forum.

I don't believe it would be a right in order to run single Windows under both Bootcamp and Parallels. Over here your parallels partition will be different from your bootcamp one. So you will be unable to access Windows files at same path, and some of your data files might be there on Windows partitions. Furthermore when you are installing windows through Parallels, there is all the time a risk that any system breakdown may cause trouble to your Mac OS X. If you are too m worried about license I advise you to first install windows through Bootcamp, so that you have a separate partition for your Windows 7.After installation keep your windows inactivated. For this purpose leave your Bootcamp and go back to your Mac OSX. Install Parallels and after that follow the process to host and run your Bootcamp windows through Parallels. Following every settings activate your Windows online under Parallels. As you have noy activated your windows so you will not have any trouble..
When you were going to use your Windows under Bootcamp, next you require to do phone activation, as described in my previous reply.