Thanks for the inputs and insights folks. I am going to go 64bit...
Interesting tidbit.. I'm actually reviving my old machine with a couple of hybrid drives as I don't want to setup a full new machine for another 6-9 months. In the process, that old XP machine from my studio only had 2 GB RAM !?!?!
I routinely recorded 8 tracks, but really only when I did drums or tranfers to/from ADAT other than that is was just a couple at a time. I recorded/mix and mastered several albums on that setup with a 200 mHZ AMD Processor and 2GB RAM using a Layla 24/96 interface.
Anyway... all my old projects were recording on that machine without issue so I just need a new interface unfortunately and with new drives it should hold me just fine while I get my chops back up.
I was just really really surprised it had only 2GB of ram... but I guess that was a lot in 2005. Funny how we (at least me) sometimes take it for granted.