I'd sell it. Between how motherboards handle additional PCI-E slots, and the vast difference from the 780 to the 640, there's a higher chance the 640 would actually slow it down as a PhysX card.
I typically wouldn't recommend anything weaker than a GTX 650 TI as a PhysX card, and even then, not with a 770, 680, or 780. Those cards are strong enough that reducing the PCI-E slot to 8X from SLI is likely to offset any performance gain.