I think you are lost in finding the locations for the correct properties of network sharing.
In both vista and windows7, it is same. All you need to do is just right right click on the network icon on the task bar of your system and select network and sharing center. After that please find "Manage Network Connections". Click on it. There you are on the main place. Here I am briefly explaining you what to do next for how to share the internet and folders or printers using bluetooth:
# Pair the devices
# Open the configuration options on the primary PC
# Select the "local services" tab
# Choose "network access" and click on "properties"
# Make sure it is set to "start-up automatically", and change the pull down option to "allow other devices to access the Internet/LAN via this computer"
# If the device you want to connect FROM does not support Bluetooth security properly you need to download and run this registry fragment. I don't think you will need this one.
# Click on the "connection sharing button and if read the help file if you need more information
# Make sure that the Bluetooth network connection is enabled on both devices
# Share the relevant folders or printers on the main PC
# Connect the network access option the same way as any other Bluetooth service
# If you want to share files, folders, or printers in both directions you should carry out the above procedure on both PC's
I hope that helps you. But I will recommend sharing by a cable (Ethernet cable).
I have no way of testing this procedure out so good luck.