Windows 7 ppp connection using service cable

Hello, apologies if this has been covered and discussed but I could not find an answer

I have a requirement to be able to access the CLARiiON SP's on multiple models by utilising the 10 metre service cable connected to my Windows 7 laptop.
I am running Windows 7 Enterprise version.  The laptop does not have onboard serial port, but i have a usb serial connector configured using COM 1.

This may be the issue but I am seeking confirmation of anyone having successfully set up this connection with Windows 7, with or without USB serial adapter.
I can get round this by either using Windows XP hosts nearby but am seeking permanent answer on laptop viability

The below info has been posted elsewhere but exactly fits my problem.

I have used the "Phone and Modem" dialog in control panel to create a modem entry for "Communications cable between two computers"

Now I go to the "Network and Sharing Center" in Control Panel, and select "Set up a new connection or Network".

Then I choose the "Set up a dial-up connection"

Here is my first problem: It insists that I enter a phone number otherwise the Connect button will not enable. But I since I choose the direct serial cable connection, I don't think it should require a phone number.
My workaround is to just enter a dummy number and then delete it again later the connection properties. Then press "Connect" and then "Skip"

Now in "Network and Sharing Center", I go to "Change Adapter Settings", open properties for the new dial-up connection and click "Configure" on the "General" tab. This opens the "Modem Configuration" dialog. Here I deselect the three "Hardware feature" settings.

Is this the correct way to setup or is there a different way to set up a PPP connection as the connection does not work...

Thanks in advance