Before I download the files, will it even run?

Hardware is fine, but i dont think it works too well or at all with 32bit Windows.
That said, i monitored my computer some time ago, also with PoE running and it never went much over 2 gb (on OSX at least), might still run...

It doesn't specify if you need 64-bit, so it should run. Your harware is powerful enough.

But why stay on a 32 bit vista? Get rid of vista and install a 64 bit version of win7, 8 or 10 or any Linux

There is not official support for the 32-bits versions.
However, there are some posts in this forum speaking about their success and partial solutions running Pillars of Eternity over 32 bits operating system.

By the way, you hardware supports the 64-bits modern operating system. You should consider to upgrade to them.

Thanks. I'm getting a new PC soon, 32GB and Win10 hopefully won't be a problem.