So i installed windows 7 Ultimate build 7000 onto my vista 32-bit... Plus i heard of a beta version coming out this month. Is windows update going to help me install the new beta OR do I have to install the beta?
You already have that Beta. It's Beta 1 a.k.a. Build7000.
As for new betas, you'll have to format everything and install it as a fresh install, as it won't detect the new beta as a new OS (Win7 remains Win7 even if the internal number changes, after all)...
So it wasn't a good move installing it over your existing main OS.
It'd have been better to wait for the RTM (the final) to do that