Here are some things to take into consideration:
1. IPX will be of no use so don't even bother with it.
2. Are both pc surfing the web at the same time? You talked about a hub and it's impossible to access the Web from both machine at the same time if you use a hub unless you use a router after the hub which will NAT your packets or if you use ICS (Internet Connection Sharing).
So if both machine can access the web *at the same time*, that means they are both configured to be in the same subnet. For your info, ICS also act as a DHCP server which means that it automatically assign IP addresses to whoever request one. For both pc to talk together, they HAVE to be within the same subnet. For example, if one is 192.168.0.1 with a mask of 255.255.255.0 then the other machine must be using 192.168.0.x also with 255.255.255.0 as the mask. ICS actually takes care of this aspect so if it's enabled, you're in business. Otherwise, you can always set your IP addresses manually but you have to make sure you they are both in the same subnet, as pointed earlier. I will spare you deep technical details but to keep things simple, if you use static IP address (address you set yourself), then just set one pc with 192.168.0.1 and the other with 192.168.0.2 with both a 255.255.255.0 subnet mask
3. To share file you need to set enable Netbios on both pc. To do so, you go under the TCP/IP properties, Advanced, and it's under the WINS tab. Also, make sure File and Print Sharing service is installed and checked on both too.
I'll let you look for these basic points first and will wait for replies from you before I fill this thread too much