Pointers for upgrading to new version of SQL Server?

We're running SAP Business One 2007 A (8.00.181) SP:00 PL:49
At the moment we have a dedicated server computer to host the SQL databases for this product. The server computer is 32-bit Windows Server 2003. The database server is SQL Server 2005 32-bit. This server was purchased in fall 2006 and had a fast disk subsystem for its day: 5x 15K UltraSCSI hard drives in RAID5.
We have several company databases, some of which are in the 12 - 13GB range in size. There are occasions where two or more of these large-ish databases may be in use simultaneously. Since SQL Server on the current server limits itself to 2GB RAM usage, I suspect there is a lot of paging to disk when multiple company databases are open, with a major hit on performance.
Windows Server 2003 goes end-of-life on July 15, 2015. SQL Server 2005 end-of-life is April 14, 2016. As part of a refresh of company IT infrastructure, we're considering replacing various physical servers with virtual servers. Ideally, we'd like to migrate the backend to a current version of SQL Server on a current Windows server OS, and also move to a 64-bit platform so we can allocate more RAM to SQL Server. We may also host virtual hard drive file(s) on SSD if/where that makes sense.
What I've found so far:
All the current SAP databases are Compatibility Level 90 (native SQL Server 2005)
The latest version of SQL Server that supports Compatibility Level 90 is SQL Server 2012. SQL Server 2014 drops support for 90. I assume it's a bad idea to change the database compatibility level?
If for any reason we have to stick with SQL Server 2005, the latest version of Windows that supports that is Server 2008 R2. That's not ideal, since in a perfect world we would want all virtual machines running Server 2012 R2
Moving to a 64-bit version of SQL Server requires a so-called "side-by-side" upgrade, it's not possible to use a SQL Server upgrade wizard
The VAR we used to install and configure the product in 2006 is no longer in business so we'd like (if possible) to do this ourselves. I'm a software developer familiar with client-server development, SSMS etc. so I feel reasonably confident in undertaking a side-by-side upgrade.
So, assuming we'd like to migrate the backend to 64-bit SQL Server 2012, can anyone offer any pointers, experiences, or things to watch out for?
There are also some services running on the current server computer, which I'm assuming will also need to be migrated:
SAP Business One Integration Service
SAP Business One License Manager 2007
SAP Business One Messaging Service
I get the feeling other people may have asked similar questions before, but I couldn't find any relevant posts.
Thanks in advance for any help.

You probably need to do an installer file clean up for Apple Software Update with the Microsoft Installer Cleanup Utility.
Here is a method for removal and clean up of iTunes and related programs. You might get away with just doing the Apple Software Update part rather than the whole thing. I would try just removing and cleaning ASU first.
Download a fresh copy of iTunes and the stand alone version of Quicktime (the one without iTunes)
http://www.apple.com/quicktime/download/win.html
http://www.apple.com/itunes/download/
Download and install Microsoft Installer cleanup utility, there are instructions on the page as well as the download. Note that what you download is the installer not the program – you have to run it to install the program.
To run the program – All Programs>>Windows Install Cleanup
http://support.microsoft.com/kb/290301/
Now use the following method to remove iTunes and its components:
XP
http://support.apple.com/kb/HT1925
Vista
http://support.apple.com/kb/HT1923
*If you hit a problem with one of the uninstalls don't worry*, carry on with the deleting of files and folders as directed in the method.
When you get to deleting Quicktime files in the system32 folder as advised in the method, you can delete any file or folder with Quicktime in the name.
Restart your PC.
Run the Microsoft Installer Cleanup Utility. (Start > All Programs > Windows Install Clean Up)
Remove any references you find to the programs you removed - strictly speaking you only need to worry about those programs where the uninstall failed.
If you don’t see an entry for one of the programs that did not uninstall, look out for blank entries or numeric entries that look like version numbers e.g. 7.x for Quicktime or 1.x for Bonjour.
restart your PC
Install the stand alone Quicktime and check that it works.
If it does, install iTunes.

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