Re: People still make these older CPUs last I checked...
Short form - you just have to try it both ways and see.
Long form - 64 bit code has access to more registers and that gives the optimizer more chances to do something clever. Fewer memory transfers, which is a nice speedup, can lead to less cache poisoning, which is a really nice speedup. After the 64 bit transition in the early 2000s, it took a while for the compiler writers to catch up but now it's barely even a decision. 64 bit implementations of mmap() can speed up your I/O maybe 5%. On the other hand, yes, if memory is in really short supply then you want to avoid paging and swapping no matter what you have to do.