I am a teacher who recently upgraded to Win 7 much to my irritation.
I have taught a junior high class teaching Premiere Elements 3 until this year. It crashes with the Windows 7 64 bit system. I am heart sick. We cannot afford a lot of new "stuff". So, do you know which of the older Premiere Elements versions will function correctly on these machines.
You should be able in install and run Premiere Elements 4 on Windows 7 64 bit without issue.
The question is where to find older versions in stock somewhere. If you purchase from a private source, you
may get involved with the Adobe Licensing Transferring matter.
When you tried to use Premiere Elements 3 on Windows 7 64 bit, did you also try to install its 3.0.2 Update along with it?
Did your Windows 7 64 bit arrive at a time when Microsoft was still supporting Windows XP Mode? If so, you could install Premiere Elements 3
in the Windows XP Mode of Windows 7 64 bit to have access to it in Windows 7 64 bit workspace. (The Windows XP Mode is a virtual Windows XP Professional
SP3 32 bit).
Please review and consider.