We ended up running our tests in parallel via MSBuild, and then merging the resulting (multiple) test result files into a single file for ease of reporting - CC.Net will happily do that for you on the build server, but it's nice for the devs to have meaningful results on their own machines as well.
Example code looks something like:
<Target Name="UnitTestDll">
<Message Text="Testing $(NUnitFile)" />
<ItemGroup>
<ThisDll Include="$(NUnitFile)"/>
</ItemGroup>
<NUnit ToolPath="$(NUnitFolder)" Assemblies="@(ThisDll)" OutputXmlFile="$(TestResultsDir)\%(ThisDll.FileName)-test-results.xml" ExcludeCategory="Integration,IntegrationTest,IntegrationsTest,IntegrationTests,IntegrationsTests,Integration Test,Integration Tests,Integrations Tests,Approval Tests" ContinueOnError="true" />
</Target>
<Target Name="UnitTest" DependsOnTargets="Clean;CompileAndPackage">
<Message Text="Run all tests in Solution $(SolutionFileName)" />
<CreateItem Include="$(SolutionFolder)**\bin\$(configuration)\**\*.Tests.dll" Exclude="$(SolutionFolder)\NuGet**;$(SolutionFolder)**\obj\**\*.Tests.dll;$(SolutionFolder)**\pnunit.tests.dll">
<Output TaskParameter="Include" ItemName="NUnitFiles" />
</CreateItem>
<ItemGroup>
<TempProjects Include="$(MSBuildProjectFile)">
<Properties>NUnitFile=%(NUnitFiles.Identity)</Properties>
</TempProjects>
</ItemGroup>
<RemoveDir Directories="$(TestResultsDir)" Condition = "Exists('$(TestResultsDir)')"/>
<MakeDir Directories="$(TestResultsDir)"/>
<MSBuild Projects="@(TempProjects)" BuildInParallel="true" Targets="UnitTestDll" />
<ItemGroup>
<ResultsFiles Include="$(TestResultsDir)\*.xml" />
</ItemGroup>
<NUnitMergeTask FilesToBeMerged="@(ResultsFiles)" OutputPath="$(MSBuildProjectDirectory)\TestResult.xml" />
</Target>