Is it possible to create a LAN between two notebooks via BlueTooth/Wi-Fi?

Question

In a given place there are two notebooks, no existant wi-fi connections available, no cable, both bluetooth-capable. What I want is to create a real LAN between the two, and (depending on how fast would that be) transfer files, play games, etc.

ALTERNATIVELY I'd like to know if there's another way to do the same thing with no additional devices.

details:
1) Both are bluetooth capable
2) Both are wi-fi capable
3) Both are really new (made in 2010)
4) Both have 10/100 cable plug (though I don't want to use it)
5) Both are netbooks (but that doesn't change much)
6) Both are HP-Mini's: 1060BR, and 1040br.
7) We are willing to install third party applications
8) Battery life is not a major concern (both have 6-cell batts)
9) Both are using WINDOWS 7 32-bits.

obs.: with these many details I forgot the S.O. great. :)

Answer 1

You should be able to set up an ad-hoc wi-fi network. Here is a howto for XP by Microsoft (but it's likely to be similar for later versions of Windows).

Assuming you're running Windows, of course.

Answer 2

It is possible, and I've done on Linux, however I used a desktop computer and a laptop.

Here's a tutorial on how to do this. I both computers have an IP adress and the network had a range of about 6 to 8 metres.