note that in addition you CAN run a 64 Bit GUEST OS even if your HOST is running a 32 bit OS so you don't have toi install Windows 7 x-64 as your HOST to test your office x-64 version.
(VMware is OK with this -- not sure if Virtual PC allows 64 bit guests).
remember if you do this :
HOST and GUEST have a max of 4G RAM combined if the Host OS is a 32 bit OS.
INTEL (or AMD equiv) VT feature must be enabled in Bios. It usually is these days by default.
Otherwise you are good to go.
(Incidentally Install 64 bit office when you've completed your tests -- it's much more stable now).
(OK I've seen your HOST is 64 bit --- but anyway I'll leave the post just for information as others might want to test a 64 bit OS when they've only got a 32 bit HOST running).