One of my favorite parsnip recipes is Alton Brown's parsnip muffins. However, I found the toasting of the almonds to be a bit excessive (mine burnt to a crisp) and also found that just greasing the nonstick pan was not enough to enable smooth removal of the muffins. Cupcake liners, people! That's what you need. Additionally, the timing is a bit off on the baking instructions- it always takes my muffins at least 30 minutes to reach that internal temperature of 210 degrees F. (I love how Alton does things like check a muffin's temperature!)
Another recipe I like for parsnips is a parsnip and carrot side dish. I slice parsnips and carrots into match-stick shapes and then saute in a high-heat oil like canola or sunflower oil. Add some sliced garlic and cook until the carrots and parsnips are al-dente. Toss with diced rosemary leaves and serve with a bit of extra virgin olive oil. Yum!