32 bit programs load and work without problems on a 64 bit OS.  Windows will install them in the Programs File(X86) folder.   You are better off staying with the 64 bit OS - it works faster and is the future of Operating Systems.  If the old Lotus programs will not install or run in native Windows 7 (if they won't run in 64 bit they won't run in 32 bit), you will have to install and/or run them in a compatibility mode for XP.
I just purchased the Inspiron 15R ant can't load any of my Lotus applications on it.  Primarily I'm concerned with Lotus WordPro and Lotus Organizer. Lotus makes a 32-bit compatible version but I'm not sure if my 15R will work with a 32-bit version of Windows 7. Can anyone offer a solution?
Inspiron 15R should I downgrade from 64bit to 32bit Windows 7?