A 64-bit PCI card works fine and well in 32-bit slots (unless there is mechanical obstruction). Of course, you'll be limited to 133 MByte/s, but since (a) the drives are slower and (b) this does not keep the SCSI interface from doing 160 MByte/s bursts, there is not much actual performance loss unless you are building a server with multiple channels or RAIDs that all use high-speed HDD drives.
By the way, before getting a SCSI controller, have a very close look at LSI's Symbios 21040 and Tekram's 390U3W controllers. Unlike Adaptec's 29160, these two are true dual-channel adapters offering one U160 channel and one completely independent legacy UW channel. The Adaptec uses a single channel with an electrical separator between the U160 and the UW segment.
The advantage of having two actual channels is that you can connect your slow peripherals to their own channel while keeping the fast stuff on the U160 one. On a single-channel adapter, access to a peripheral harms HDD throughput.
Besides, at least the Tekram adapter in retail kit version (complete with cables, adapters, and U160 terminator) is only slightly more than a naked bulk Adaptec, and almost $50 cheaper than Adaptec's kit that brings a less capable adapter _and_ includes less cabling material.
The genuine LSI symbios 21040 is inbetween these two, and has no advantage over the Tekram other than using a more feature laden SCSI BIOS. (Either are flash upgradeable.) The main hardware difference is that the Tekram has the U160 channel on the external connector, while the LSI has the UW channel there. The Tekram comes with a slot bracket to provide an external connection on the UW channel, so that's another plus for the Tekram. They both use the same LSI Symbios 53C1010 twin-U160 chip.
Regards, Peter
PS: And if you decide to go U80 instead of U160 (not much performance loss either), first and only pick is LSI's 21002 adapter, which also uses a dual-channel single-chip architecture for one U80 and one UW channel. (Tekram's 390U2W is single-channel with separate segments for U80 and UW.)