Are you sure you have a "32 bit machine"? With Intel processors, the 64-bit address space goes back to 2004. It all depends on which CPU is in your machine. Unless you are running some heavier-duty apps than most of us do, IMO you'll never see much difference between 32 and 64 bit mode other than more of your older applications will run in 32 bit mode.
As to the statement "I worked in the computer industry during the transition from 16-bit to 32-bit. The biggest difference I saw then was it allowed for more lower skilled programmers to develop highly inefficient code that required the larger address space.", that was one of three major factors. Another was the legitimate advantage of a direct address space over 4 gB for things like huge databases. The biggest factor IMO was that it allowed inefficient software developed by programmers of all skill levels to be brought to market faster. I was there also for the 8-to-16 and 32-to-64 bit transitions, and a lot of software was pried from my clutching hands and shipped way before it was ready. Time to market always trumped quality.