Hi Tom, welcome to NST.
What are you trying to do ?
If you want to dual boot W7 and XP, W7 must be controlling the boot and you'll need to add an entry for XP to the W7 BCD. You don't need to add an entry for W7.
If you were adding an entry for W7 to an existing Vista BCD, it should be pointing to Windows\System32\ because that's where the boot loader resides.
Sorry, reading more carefully, I see you're adding a second W7 (x64). It still points to the system32 folder, that's where winload.exe lives whether the system is x86 or x64.