Windows 7 and Program Files (x86)

I plan to run windows 7 Professional on my pc. I had an idea that i would install it on a small 80 Gb HD and then install most of my programs to a separate, much larger, HD. If i do this, will windows be able to cope with the file structure as both my 32 & 64 bit programs will be installed to E:\Program Name or something similar?

Thanks - I will begin the install!

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