Be sure to review what hardware is NOT supported on Win7 or Win8 before you upgrade... When I went to Win7, I had to buy a new camera and printer. Microsoft has website you can search for on "hardware compatibility."
I actually backed out of the upgrade to Win8 because of the disclaimer that you cannot uninstall and get the old operating system back... you had to re-install the older version from scratch (i.e. format and all that pain).
Now, on the X boards I read a comment that 8.1 drivers do not work in 8, so I think I am sticking with 7.
I got a 64-bit machine when going to 7, and the learning curve was originally painful, but it is more capable. I am not sure about 32-bit though, so this is also something to consider. Be sure to research!
Michael