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S
Sweeney
Guest
A windows emulator.
S
Seismic
Guest
Again, as others have said, I play UO on my Mac Mini using Bootcamp. I'm sure Parallels would allow it using the 2D client but I don't have $75 for it 
.
.
Yes
With a copy of windows:
Bootcamp, Parallels, one or two others?
Without a copy of Windows (these solutions implement the windows API for the Mac)
Crossover & Wine
The easiest solution is crossover ($30) from code weavers. A 30 day trial is downloadable from the codeweavers site. I've never set up Wine (FREE!) for a Mac but it was really easy for Linux; though it requires you install the X11 package on the Mac.
Bootcamp comes with MacOS X but required you to boot in to Windows. The others can be run from a Mac desktop.