Polycom's speed dial keys initiate a new call even if you are on the line, so programing '##PARKEXT#' simply sends a new call to asterisk to ext '##PARKEXT#' while placing the last call on hold. I haven't found a way around this, but have asked Polycom to make it more customizable in the firmware.
Anyway idea 1: Is it possible to have Asterisk bridge the functionality gap--if it receives a ring to an extension, it would check to see if the caller has another call on hold, if it does then transfer that last call to the parking lot while announcing the lot number to the caller? This would be a workaround to Polycoms lack of versatility. So we could implement single button parking.
Otherwise, idea 2: An in call feature code specifically for parking maybe: *0#
While not as effective, number 2 at least could save a few key presses. 5 -> 3
Number 1 would solve many issues for my users, number 2 would be helpful anyway.