OK - so this is my first post on these forums.
I have troubleshooted my way through this and have seemingly managed to get it working using the solution provided a few posts ago. I figured his explanation was a little vague for the average user, and so I wanted to provide a good solid reference for the thousands of people who will no doubt stumble across this annoyance in the coming months as Windows 7 becomes mainstream.
PT 1. SWITCHING OFF WINDOWS SEARCH
Start > Control Panel > Programs > Programs & Features
Then on the right-hand side, click "Turn Windows features on/off"
Scroll down, and de-select "Windows Search".
Press OK, close all windows and restart.
Annoyingly, this is one of the defining features of Windows 7. Typing in files/keywords into the Start Menu much like Finder on OSX - so I'm disappointed it needs to be turned off for this to work!
PT 2. MAPPING THE DRIVES
If you've already broken the network connection with the drives you need to restart or log out and then log in again. You need it to be on the network and not ****-blocking you for this to work.
For those who don't know how to do this - if you've already installed Airport Utility you'll need to "virtually" disconnect / unmap the drive from My Computer. You can do this by right clicking the time-capsule mapped drive (Y or Z: or something) and then select "Disconnect".
Once you've done that, on the right hand side of My Computer scroll down to where you see "Network", click it.
Then when all of the computers finish being recognised you should see your Time Capsule appear as a network computer. Double click it to see your folders inside.
Now right click the Time Capsule folder and select "Add Connection" or "Map Network Drive". Tick "reconnect at log on" and "use different credentials". This is where you enter "admin" and whatever password you use to access your Time Capsule.
If you get an error: "Drive hasn't been disconnected can't change credentials", log-off and then log-on again, then Ctrl
AltDelete into Task Manager and close the Apple Utility before it connect to the drives. If it does anyway, just close the app and 'disconnect' the drives as specified earlier.
I think that about covers the general experience.
Simply put, it's not a Time Capsule issue (which is hard to believe) - it's actually an issue with the way that Windows 7 sends files over networks. Maybe it's more secure, maybe it's more efficient? Who knows - the reality is even if it worked on earlier firmwares it would've been at the compromise of other features / reliability / security.. So provided that all it takes is independent drive mapping and turning windows search off, I can handle it - provided I can backup/reference files across 3-4 machines using the TimeCapsule and an added USB drive (formatted HFS+ btw).
Will post if I experience any other issues.
Good luck to everyone else!