This install turned out to be a bit feisty. When I booted from the ISO in a VM in Parallels it gave me the happy boot: prompt but retired to a blank screen after that. I tried various options to no avail so I hit the Parallels Forums and found a post where the following was found:
There is an error into Parallels CDROM emulation ( but may be not error at all) . For those who familar with linux kernel – inquiry command for CDROM comes with zero into Cylinder IDE register. Parallels doesn't like zero value there.
It will be fixed into future. I don't know will update comes or release including this fix.
So. there is a work around to avoid this checking, simply set VM type as SOLARIS, in this case CDROM will work. But… of couse Ubuntu may work unstable or even fails. Because incorrect OS type is set. Anyway I succesfully booted Ubuntu 7.04
Sure enough that worked just fine and I'm happily installing as I type this.