Vista 64 is fantastic - I've had it since February. You do need a powerful CPU though but thats not unique to the 64 bit version.
Most programs run (AV and CD Burning are the main 2 problem areas with Vista generally not just 64). You'll probably need to upgrade these programs.
Generally most programs run on 64 thanks to its compatibility mode which is completely automatic, runs in the background without any interaction and doesn't slow anything. In short you'll never tell the difference between a 32 bit program on Vista 32 and a 32 bit program on Vista 64.
If you're going to get 64 then buy a 2 x 1GB matched pair of ram sticks that exactly match your existing ram. That way you should be able to run it all (4GB) in dual channel. You also need to check compatability with your motherboard as some are fussy about configurations with more than 2Gb of RAM, there always a danger your existing ram can't be run in 4Gb configuration.