For anyone wanting to try Mach3 in a VM on 64bit Windows, have a look at VMLite.
http://www.vmlite.com/index.php?option=com_content&view=article&id=47&Itemid=143Download the XP Mode setup package from Microsoft to use with VM Lite and its setup works with the XP Mode package.
What can VM Lite do that XP Mode can't? Hardware 2D and 3D video acceleration using the host's video hardware. Direct access to other host hardware. Can run on a CPU without hardware virtualization support, which XP Mode requires a patch to do. Can run just about any 32 or 64 bit version of Windows. With a multi core CPU that has hardware virtualization support VMLite can run a 64 bit guest OS on a 32 bit host. I don't think any other VM can do that. VMLite has a full desktop mode where the guest Windows shows its taskbar, icons etc in a window and a seamless mode where guest OS programs acts as if they're running on the host OS, much like how "Classic" worked in early versions of Mac OS X.
Of course a dual or more core CPU improves performance of the guest OS. I use VMLite to run 32 bit XP on a laptop with a Core 2 Duo CPU running 32 bit Vista Ultimate. It used to have a Core 2 Solo Celeron - 64 bit capable but no hardware virtualization support. VMLite had most of its features available but was really really slow. With the CPU upgraded the XP setup runs just a sfast as the host.
The 64 bit on 32 bit setup could work out for running Mach3. Install Win 7 32 bit with Mach3 and its parallel port driver then setup Win 7 64 bit in VMLite and use seamless mode. "Look! I'm running Photoshop CS6 on 32 bit Windows 7!" ;-) Not really but could fool some people.