day2905, welcome to the forum! What version of Windows 7 64 bit do you have? If by chance you have Pro or Ulitmate, you automatically qualify for Windows Virtual PC w/XP Mode. It's a XP Pro SP3 virtual machine that's easy to run & maintain. It's used by many to run software/hardware that won't either run/work in a 64 bit environment or Win 7 altogether.
64 bit is today's gold standard of computing, the only new 32 bit computers sold today (on the retail market) are those on netbooks. It runs quite well, even on lower spec computers (see my specs, esp my CPU). It also enables you to multi task easier, too.
You should explore all other possibilities before downgrading, you won't regret it. When Win 7 was first released, there were several new threads created daily on this issue (32 vs 64 bit, & vice versa). So many that the majority of them could have been grouped together as one huge thread, as most were duplicates of others. That trend has slowed almost to a crawl, and I'm glad.
If you could provide us with a list of your software that you use, there may be alternatives suggested to you. It's your choice, but giving up 64 bit is a huge step backwards. We're here to help.
Best of Luck,
Cat