But NTVDM is for running 16-bit apps on x64, not 32-bit apps?

There are VMware keys on Google, but that doesn't make it free. Player is free but I can't use it as it's awkward so instead I use Workstation. I use it because you can change BIOS settings, but I use VirtualBox more often as it has a bit of better support.

K so the one from my Compaq is an NVIDIA TNT2 16MB, and my new one is an NVIDIA MX330 8GB

Intel Core i5 10th gen @ 1.00GHz (Up to 3.26GHz)

New Lenovo IdeaPad 12GB DDR4 RAM.

VirtualBox is my main, it's easy to use, and has a lot of support. I sometimes use VMWare for betas, tho not that much since you can set BIOS date back in VirtualBox using commands (although it is kinda annoying). I also use PCem for older betas like Windows 1.0 DR5, Alpha and Beta and also for Chic...

Windows 98/95, they are pretty nice unless the CPU is too powerful for Windows 95 lol, but they are very nice for runnng old software (tho I'd also like to try NT 4.0).

You can run 32-bit applications on 64-bit Windows, since x86_64 IS compatible with x86. You don't need to do anything, just run the application.

Hmm I wonder if the Windows ME ISOs on WinWorld are bootable.

Yes, this is a pretty nice modification to Windows XP. It looks very nice!