CLRMAMEPro can create a romset for an older version from your current version set. The old version set will not be complete, but it will have more working ROMs than just pointing the old version of MAME at your current version ROMset.
Why the old version set won't be complete: ROMs that had more files/data inside the archive than the current version cannot be rolled back, because your current version does not have all the data. So those ROMs will be missing from your newly created older version set.
Also, the standard, (non-MAME32) release of MAME uses less resources on your computer and often has a few more playable games than the MAME32 release for the same MAME version#. If you really want to push your oldest, slowest computers to their limits, you'll also get more speed running command-line DOS instead of Windows.