Hello sanctuary, and welcome to Sevenforums.
No, you cannot choose which version gets installed, although I believe it is the 32 bit XP Pro (cannot confirm the version at the moment, but I'm like 75% sure it is Pro). It doesn't do well with graphically intense software, such as games, tv tuners, or graphic editors.
You will need Windows 7 Pro or higher to install (64 or 32 Bit).