Keep in mind that if you drop the old stuff, you'll have to provide a bootloader and even then it'll be weird; modern systems still boot in 16 bits, bootstrap in 32 bit mode, then configure 64 bit. Unless UEFI fixed that madness?
The processor itself still boots up in 16-bit mode. UEFI does switch into 64-bit mode before booting an OS loader, but that doesn't mean the processor itself starts in 64-bit mode.
BIOS itself can be implemented as 32-bit code, which contains software emulator of 16-bit code. This emulator runs until CPU is switched to 32-bit protected mode by OS bootloader.