Larry,

There is a plugin which bridges 32 bit VST for use in 64 bit apps. However, I think Cakewalk is still using a VST into DX wrapper - so I'm not sure that the bridge plugin works.

http://jstuff.wordpress.com/jbridge/

There's a demo so you could give it a whirl if you can do a dual install of Cakewalk.

I'm sort of in the same boat. I have a small stockpile of my 'goto' plugins which are all 32 bit and my current host is 32 bit (run in Win7 64 bit Home Premium as Administrator without an issue). But I'm getting ripe for upgrading to a 64 bit host. I'm very tempted by Mixcraft's video editing features and it's price. I qualify for an academic discount on it.