After an Aug 2nd MS Update for Win 7 drivers of a MS Bluetooth dongle, the bluetooth icon disappeared and devices were not working properly. The devices were not being detected by ID, instead they were generic HIDs. The problem is from the IVT driver being installed for the Bluetooth driver instead of MS driver. You must roll this back or click update driver and browse for compatible device drivers. You do this through the Device Manager, select the Bluetooth device to get to the properties menu. There you can select the drivers tab and uninstall/change drivers. Select update drive and browse/choose from list. Select the correct one from the list, in my case it was a Microsoft Transceiver 2.0. After the driver was updated the bluetooth icon and options in the control panel came back. The devices however were not working 100% yet. I removed them from the list of connected devices and manually added them back. Once this was done, everything is back to normal.
Not the first time a MS update of drivers has broke my systems. Unless there is no support for your device directly from the manufacturer, I would refuse the MS update. Failed updates to name a few; realtek hd audio, nvidia video, nvidia gigabit network, via network, Chrome9, Brother PCL drivers and now MS Bluetooth 2.0.

Windows 7 Pro, MS Elite Explorer Bluetooth Desktop 2.0

More of operator head space and timing error.  In all the changes to the BIOS trying to fix the ATI BSOD I cleared the CMOS and pulled all the power to the system.  The system clock reset back to 2006…  Windows update does not like your PC being too much out of sync.  Update the system clock to the current time and everything should be back to normal.
One odd thing was there was no updates detected.  This was a fresh install and I know there was a few updates available.  Waited a few minutes and went directly to the Windows update through IExplorer (Saftey drop menu) and the Windows update in the control panel popped back up with all the available updates.

Installing a fresh install of Windows 7 64 bit causes a BSOD blue screen of death.  This was pretty frustrating as I’ve always run in to a problem with ATI drivers.  In XP the solution for me was to run Omega ATI drivers instead.  After many changes in the BIOS (Abit AV8 board) nothing would work but changing the video driver to standard VGA in the OS (from safe mode). Tweaks tried: reserving IRQ, disabled extra devices, clock settings and bus speeds… Nothing worked.   One thing that changed while upgrading this time was I put in another 2GB of ram.  Removing the ram proved not to cause the BSOD but I want to run with 4GB of ram.  Found the solution but not sure on what causes the problem.  I noticed my board with dual sided chip drops the clock to 333 instead of 400 when using 4GB.  Could be something with this.  What fixed the problem was manually entering how much ram is available to the OS at boot time.  You can access this setting with the msconfig tool.  Boot up into safe mode or standard VGA video.  Run msconfig by typing in ‘msconfig’ from the Start Run or search prompt.  Prompts to run as Admin are ok but in safe mode it should not prompt you.   Click the Boot Tab. Now put a check mark in the Maximum memory setting and select how much memory your system uses.  It should default to how memory the system is detecting.   Mine is 4GB or 4096MB.  Apply the changes and the system will need to reboot.  If everything works, your screen should flicker instead of BSOD.  For some reason my desktop theme was blank (black), probably from the auto repair options trying to fix it.  You can change your desktop themes back to normal though if that happens…  BTW the latest Vista x64 Catalyst drivers from ATI (AMD) loaded up fine.  Good luck.