Windows 7 - Ultimate 32-bit vs HP 64-bit

I placed an order for this sytem;

Intel(R) CoreT i5-750 2.66 GHz 8M L2 Cache LGA1156
EVGA 9800 gt 512 mb
750gb HDD
4GB (2GBx2) DDR3/1600MHz RAM
EVGA P55 LE Intel P55 Chipset
700W PS

Now I have a choice;

Buy Windows 7 Ultimate 32-bit from my school for 15$, or buy Windows 7 Home Premium 64-bit for 105$

Would you say it's worth 90$ for 64 bit > 32 bit? I'll be using it for basic web browsing, MS Office, and the occasional game (Mainly just FPS, I'm sure I'll get Crysis soon). Oh, and I'm on a somewhat limited college budget.

I would go for the $15 offer. Is that $105 offer for an HP version of Home Premium, if so I would not go that way, because It would be OEM, which means that it is a disposible OS and you wouldn't ever be able to use it again, if you had to move to another PC, or make changes in the components of your system. Besides, you can beat that price for it on eBay for a MS version.

EDIT: The main negative for opting for the Ultimate x32 is that it won't use all of that 4GBs of RAM.

Of course it is subjective, but to me the 32 bit is the way to go. Use the 32 bit and enjoy it. As time progresses, MS will come out with Windows 8 (or something with a similar name), you can buy at that point. Since you are asking the question, like most of us, you cannot just buy everything that you see and want, therefore, buy the 32 bit and put the savings to another use.

I would definitetly pursue the x64 option, but I'd start with your school, and asking if it is possible to obtain the media for x64. If not, ask if the license is considered retail, versus OEM. If it is retail, Microsoft will allow you to purchase the x64 media for about $10.