I have found the reverse but have yet to find this exact problem. My computer, running Windows 7 64 bit, will recognize the printer but won't let it connect to the printer. The network drive is not even seen. Both the printer and the network drive is hosted on a computer using Windows XP 32 bit.
The printer and the network drive should not have a problem being seen and working on the Windows 7 computer as long as there are 64bit drivers for both of them. With them being a shared item on a different computer, most items like this require at least basic drivers to be installed for minimal functionality.
The other thing to consider is you mentioned that you have them "hosted" on a computer running Windows XP 32bit. Are they shared on this computer so they can be seen across your network or how are they being "hosted"?
What is the make/model of the printer so we can double-check it?
What type of network drive are you using?