Bit of a twist for this run....
Parallels VM of Win7 SP1 on top of OS X 10.7 with the VHD on an Intel 80GB G1, default settings across the board. Definitely looks like there's some caching going on
*Might* be some NTFS-like compression too, have had a hard time turning off that setting
EDIT: yeah, definitely some compression going on (especially on writes), re-ran with incompressible:
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