Bootcamp is faily easy - you have full access to all of the memory in your system, full acess to the processor and as much disk space as you created in your Windows XP bootcamp partition, plus any other NTFS-formatted partitions/drives you have attached. As for video and sound cards, simply use the System Profiler (Apple | About This Mac | More Info...) and click on the appropriate item to find ut if they are suitable.
Parallels gives you almost complete access to the CPU. Keep in mind that the CPU is also being shared with all other applications that are running on the OS X side of things - think of it as your windows program running with other apps under windows. Memory will be as much as you assign to the virtual machine; ditto disk space. The access to the graphics and sound cards varies with the release of Parallels and you are best to look at the Parallels web site and support forum for details.
I've also been playing with the beta of VMWare's Fusion for OS X. The same basic comments apply as to Parallels but you may find that the differences in graphics sound and USB support (etc.) provide a more suitable mix of capabilities for your requirements.
Yet another option is crossover but I have no experience with that myself - perhaps others can fill you in.
Susan