This standalone installer is recommended for those who don’t keep Office 2010 updated through Windows Update, or for those who intend reinstalling Windows. This is the 32-bit version, for 32-bit versions of Microsoft Office. A separate 64-bit build is available for those running the 64-bit version of Microsoft Office.
You don't HAVE to uninstall 2007, but I don't see much advantage to keeping it unless are supporting other people who are using it. Your 2010 license it not an upgrade in the old sense, it is a new full license separate from prior licenses.
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Your 2007 is almost certainly 32 bit.
The default installation process will automatically uninstall it for you.
Your Digital river download is also almost certainly 32bit, that is the default that MS advises. You can get 64bit, but you have to ask for it.
Ms Office 2010 Full Version (with Serial Key)32 Bit And 64 Bit Bit
If you do decide to keep 2007 there are a couple of things you need to know, they are covered in these 2 articles:
Information about how to use Office 2010 suites and programs on a computer that is running another version of Office
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http://office.microsoft.com/en-us/outlook-help/learn-where-menu-and-toolbar-commands-are-in-office-2010-HA101794130.aspx - Silverlight applets Mapping 2003 menu to 2010 ribbon for all Office apps.
http://office.microsoft.com/en-us/training/HA102295841033.aspx -Flash Applets mapping Office 2003 menus to 2007 ribbon.