For the record:
I did it. It is in fact possible to connect a lasershot 1120 to a Windows 7 x64 machine.
Here goes:
You need virtual machines for this running win xp.
Get the integration modules going for the printer.
the usb section should list it as shared. Change that to connect, disabling it in Windows 7.
Install the winxp drivers in the virtual machine through devices>new printer. Copy those from your original download to the virtual disk before running them. Note that the winspool service crashes. Restart it from services everytime it does. Also check the usb device reverting to shared. Reconnect if it fails. It does that a lot it seems. There is a known bug in canon's CAPT driver crashing the spooler service through UMBus enumerator. Because of the virtual machine you can't fix that. sorry.
Make sure to get the canon dep prevention solution and install that as well. It's an exe that can be found at the canon driver site. It'll only work when printspooler is up. At this point I made a link to the desktop for system services. Saves the trouble of going to config.
When everything is installed you should shutdown and restart.
With the printer connected and running start win XP virtual.
Spooler will crash, nevermind. Go to startmenu>programs>startup and remove the statusthingy from canon.
change the usb devices settings to connected.
check the printer devices, it should show the lbp1120. Opening it will fail, no spooler.
restart the printspooler once more.
Check again, opening the lbp printer should now produce the windows printer box with it's status "ready" Note that the canon tray printerthingy wont report normally, but you should now be able to print stuff to it.
Note: this took me a long time fiddling with win xp, printspooler, restarts, re-installing drivers etc....
You'd have to be pretty determined to make this work as virtual machine is slow, restaring it takes forever and the end result is still flawed, you have to do the whole routine of restarting printspooler after starting the winxp virtual everytime you need it.
Now, once you have liftoff the printing procedure is:
-connect the printer
-start virtual machine win XP
-USB>Canon CAPS device>connect
-Restart printer spooler in: Config>System Management>System Services>printspooler>start
-Open document and print
Complicated way of doing it, but I use this printer for making toner-transfer method custom circuit boards and this way I don't have to put my designs on usb sticks and start up ye olde win XP on another pc.
Still I had some good fun breaking the problem
