If the Netgear device you have is
this one then it's a 4-port router and a wireless access point. It does indeed need a separate modem (the Netcomm).
I'd connect it to the Netcomm, the Netcomm to the incoming ADSL line, and the PC to one of the 4 ports on the Netgear. The laptop can connect to another port if it's in the same room, or by wireless if not.
You may have to "tweak" things, because the Netgear's got a fair bit of security and protection stuff built in (not at all a bad thing), but once that's done, the PC and the laptop are well protected. I'd use the WPA etc stuff, since you have it!
Once you've got both PC and laptop connected, you should be able to network them (share files, printer, etc between them).