Have you tested the current version of VueScan? I think you can run a trial and do some testing.
If it doesn't work you don't even need to think about spending $40.
No doubt you've seen the Win7 (and Vista) 32bit driver on the Epson website.
IMO the last of a Vista 64bit driver and the 32bit Windows 7 driver is a clear signal that Epson doesn't plan on writing 64bit drivers.
Interested in doing a dual boot install? When you wanted to use the scanner you could boot up an alternate OS (XP/Vista/Win7 32bit).
It looks like there might even be support for Linux.
As for paying $40 to get a six year old photo scanner working? IMO you'd be better off looking for a hardware upgrade and use the $40 there.