Dual boot Win7-64 & Win7-32 question

[vailr]

Question: will a Win7 Professional 64-bit system's product code also work on the same machine, dual-booting (on a separate hard drive) Win7 Professional 32-bit?
The need for dual booting with the 32-bit version is for getting an old Windows 98 era software (called Pspice 8.0) to work, that requires a parallel port dongle for authentication, and would be too expensive to replace.
So: can the 64-bit product code be re-used with the 32-bit version?

 

[Ketchup]

If this helps: I have used a product code from Server 2008 32-bit to install the 64-bit version. Vista and up can go either way.

For concurrent use, I don't think Microsoft would like that.

I have a question though: Is this for constant use, or a one-time thing?

 

[vailr]

If this helps: I have used a product code from Server 2008 32-bit to install the 64-bit version. Vista and up can go either way.

For concurrent use, I don't think Microsoft would like that.

I have a question though: Is this for constant use, or a one-time thing?

This would be an ongoing occasional use of the 32-bit Windows, but mostly using the factory installed 64-bit Windows.
This is the machine in question:
http://www.newegg.com/Product/Produc...82E16883156316
+ this parallel port card:
http://www.amazon.com/gp/product/B001Q7X0Z8