Windows VPN

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Well I'm using the Windows built in VPN functionality in Windows 7 professional.

There seem two ways of using it :-

1. I can make the VPN shared and use the magic blue button on the windows login splash screen.

2. I can login to the Workgroup / NTLM and then activate my VPN from network and sharing centre.

In the first scenario I correctly get the normal kerberos tickets you get on a domain.

In the second scenario I do not appear to get any kerberos tickets :-

C:\Users\prog>klist

Current LogonId is 0:0x113794
Cached Tickets: (0)

Can anyone explain what is going on in terms of the design, network, security etc ? What is the difference ? How does the second VPN present credentials and access resources if it has no ticket ?