Hey guys,
My Current OS is Windows 7 Home Premium trial (been using the slmgr /rearm thing) and I just received a wonderful gift, a Windows 7 Ultimate Disc.
Yes, you can upgrade home to ultimate, but not 32-bit to 64-bit, you will need a reinstall, personally I would reinstall x64, nothing like a clean build.
Piracy or bypassing OS authentication is NOT ACCEPTABLE on the forums. Do not suggest anything except legitimate solutions for software activation or purchase.