RotorHorn,
Your suggestion works fine when using the Release Candidates or have multiple XP Pro licenses. If you swap your 32 bit XP Pro license for the 64 bit version, you lose the 32 bit license permanently. Meaning you can't go back if it doesn't work.
I do have the second release candidate (I just haven't gotten round to installing it yet), but am going to wait until I know my TV tuner card, webcam, Bluetooth keyboard/mouse etc. work before going for the final version.
goates