Dual Boot
I agree, dual boot is probably your best option. That way you keep everything that's on your 64 bit partition and can even run 64 bit if you want. You will get a prompt every time you boot asking whether you want 32bit or 64bit.
However, i would try to run the program in 64bit using "compatibility mode". It doesn't always work but many times it does. Contract me if you need help.
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