Upgrading from a 32-bit to a 64-bit Windows OS can indeed offer performance improvements, particularly in allowing you to exhaust more than 4GB of RAM, which can greatly enhance multitasking and running more demanding applications. However, compatibility with older software and drivers could be an issue. Most newer software and hardware are compatible with 64-bit systems, but some older applications might not run natively or may require specific patches.
Before upgrading, check the compatibility of your critical applications and hardware. You can visit the software manufacturer's website or use Microsoft’s compatibility checker tool for this purpose. Also ensure that your processor supports 64-bit operations; most modern CPUs do, but it’s crucial to verify.
Lastly, remember that switching from a 32-bit to a 64-bit system isn't just an upgrade—it requires a clean installation of Windows. So back up your data thoroughly before proceeding with the installation.