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#1
This is just a personal opinion and others may very well disagree. But I think Windows 7 64-bit is better than 32-bit simply because of the ability to make better use of installed memory. A 32-bit machine is limited to 4GB minus whatever memory might be set aside for graphics, etc. Most folks see about 3 - 3.5GB of usable RAM on a 32-bit machine. If your machine is upgradeable (or came with) more than 4GB RAM then 64-bit is the way to go.
https://www.sevenforums.com/tutorials...ndows-7-a.html
As far as using older legacy XP programs you could try running them in compatibility mode.
Compatibility Mode
Or, since you indicate you're using Ultimate, you also have the option to download the free Windows XP Mode which may let you have an even better experience.
Windows XP Mode - Windows 7 features - Microsoft Windows