Yes & No. I just did a bit more testing on this & it does function without the FAPS (File and Printer Sharing) service but not completely.
I just re-installed Win2k on the server here & it does not establish new resources, it only allows you to access what has already been established.
Either way though, without the FAPS service installed the FAPS is dodgy & that's not cool. I guess I answered my own question, thanks for your time though.