When comparing Parallels Desktop vs ShiftIt, the Slant community recommends ShiftIt for most people. In the question“What are the best power user tools for macOS?” ShiftIt is ranked 46th while Parallels Desktop is ranked 59th. The most important reason people chose ShiftIt is:
ShiftIt is configured through a simple UI where you simply press the hotkeys you wish to map to a certain action.
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Pros
Pro Best-in-class gaming performance
Compared to other VMs, Parallels has the best gaming performance. Still, a good framerate can only be achieved with games that have very low resource requirements. A much better option for resource intensive games is dual booting Windows (via Boot Camp).
Pro Easy to use
Parallels has an easy to learn and use UI. All important features are wizard based. It requires only a few clicks for the wizard to download and set up the latest Chrome OS, Windows or Linux build.
Pro Can run Windows apps as native OS X apps
Parallels has a "Coherence View" mode that allows running Windows applications as if they were native OS X apps. In this mode Windows is virtualized in background and Windows features like Jump Lists, Taskbar, Start Menu, etc can be embedded directly within OS X.
Pro Best integration ever
Pro Easy to configure
ShiftIt is configured through a simple UI where you simply press the hotkeys you wish to map to a certain action.
Pro Free
Pro Intuitive
ShiftIt is very straight-forward to use for most frequent usages.
Pro Open source
Pro Configuration can be committed to your personal dotfiles repository
Configuration winds up living in .hammerspoon/init.lua and .hammerspoon/Spoons/ShiftIt.lua. Very easy to track configuration changes.
Cons
Con Very expensive
Parallels upgrades are very expensive. Even if I bough several versions of Parallels I will switch back to free VirtualBox as they even "invented" the Pro version - mainly doubled the price you have to pay each year to have the software updated.
Con Can't import OVA files
OVA files are useful because they include all of its supporting files. Unfortunately, Parallels doesn't support these useful files.
Con Requires buying a new version of the software with each new OS X release
Chances are that the same version of Parallels won't work with different OS X releases, requiring a separate purchase of Parallels for each OS X version.
Con Home edition doesn't work with Vagrant or Docker Machine
Make sure you purchase the Pro edition (the subscription) if you need command-line access to the hypervisor.
Con Can't export OVA files
One you use parallel you get trapped into a proprietary format.
Can't share disk blocks on two unrelated virtual machines (KSM for disk) too.
Con A little slow
Similar to Spectacle, but it has a few more features, such as being able to pick the size adjustment increments. Spectacle was a little faster, though. Repeated size changes or moves in succession can cause it to wait for it to complete.
Con Imprecise when readjusting sizes
Con Doesn't support moving windows between workspaces
There's no way to move a window to a different workspace with hotkeys in ShiftIt.