The best you have to do is upgrade to 64 bit. There is no drawback I can see and you can use any current software you can think of with it. Always think future when you upgrade a system. Just be sure your processor is 64bit compliant, which should be the case if it's not too old.
The only drawback i could see with GP4 would be the graphic card. it seems some new graphic drivers are less compatible with such old games.