Actually, other than for the fact that parity has some kind of simple “Hey, wouldn't it be nice if a dollar were a dollar?” appeal, I'd rather get away from the notion that it's some magic number. I think we should think long and hard about what to fix it at and just fix it at something.
My hope would be to have a dollar in the low nineties. I'd like it to have a tug up on purchasing power parity, not down. My guess is that parity with the U.S. dollar is higher than is optimal for Canada at this point.