moonface, welcome to the forum. You have Win 7 Pro, this qualifies you for the Windows Virtual PC w/XP Mode. It's like a computer within a computer, and very easy to maintain, once you get the hang of it.
What you'll get, at no additional cost to you, is a pre-activated version of XP Pro SP3, once you install it, you update it just as you would any computer, and install your programs to it. After the computer is updated, you'll need to install "Guest Additions", which is found at the top of the VM in a drop down menu (like bookmarks are).
This will allow you to run your legacy software/hardware, while having a modern OS like Windows 7 at the same time. The only thing about XP Mode, is that it's not suitable for gaming or watching movies, nor was that it's intended purpose. It's purpose is to assist users like us who needs it.
Without giving up our 64 bit systems. 32 bit computers/hardware is becoming a thing of the past at a rapid pace now.
Check it out here for yourself:
http://www.microsoft.com/windows/virtual-pc/
Best of Luck,
Cat