Need to run 16-bit SW on 64-bit W7-Premium

This may have been asked previously, but I cannot find it...
I need to purchase a replacement laptop - they all come with Win-7 Premium 64-bit (OEM version). I have several 16-bit applications that I want to continue using, VB3 applications with JET 2.5 databases, and others (also Office 2000). Unfortunately, these need Win-7 32-bit to run, 64-bit won't allow them.
Is there any way to run 16-bit software on Windows 7 Premium 64-bit?
One shop suggested buying the laptop with 64-bit loaded, format the disk, buy separate Win-7 professional, then load it as the 32-bit version. Do I need to be brave...?
Thanks for any help.

Your best bet is virtualization. Home Premium SKUs are not eligible for "XP Mode", but you can download Microsoft VirtualPC, install XP on it, and then there's a cool way to link XP's start menu to your Win7 start menu so your installed programs under the XP virtual machine appear in your Win7 start menu and load 'transparently'.

I wouldn't downgrade a new box to a 32-bit OS.