Virtualization is amazing to leverage :-)
If your master is on windows 32 bit... create 64 bit windows VM (prefer 2008 R2 SP1)
Backup your 32 bit catalog and other configurations to basic disk on master server itself (create 1 if it doesn't have)
copy DR file and catalog backup to another network share where new VM can access it later
provide same IP and hostname to VM (ensure 32 bit host is power off or is not in network (unplu the network and reset computer account from active directory to avoid GUIDs) let new VM get registered with AD with same hostname as old)
install NBU 7.5 and patch with 7.5.0.6
copy DR file and catalog backup back to local disk and create basic disk
perform catalog import for these images
Restore your catalog
as this is VM thus you will not have your tape drives connected to it (zoning tapes drives to Guest VM is not certified though many have claimed it to technically worked. - Do not attempt to zone it, you might mess with it)
once you feel catalog is completely recovered..
backup your catalog and perform test backup and recovery from disk units and as well as from appliances..
Verify appliance and master and client are able to resolve each other.
get NBCC analyzed from support just to be safe side.resolve any consistencies if found
as windows is 64bit and 2008 R2 you are officially in support matrix for 7.6.x upgrade.
perform upgrade to 7.6.0.3 (it's released last week i believe.. check CRZ blogs or articles or google it)
till master are upgrade keep appliance services stop....
start services and verify connectivity..
if in case you have opscenter in environment... upgrade it first.. even before master server...
else data collection won't work.