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Deciding which Vista version to install can be a difficult decision and can really limit what you can do with your system. Here are practical hints which should help a user decide which version to install.
With the gaining popularity of 64-bit chipsets/processors, many users now have the ability to run either 64-bit versions (x64) or 32-bit versions (x86) of software and operating systems. However, if you only have a 32-bit processor, your choice is easy because you can only install the x64 version of Vista if you have a 64-bit processor.
For those with 64-bit processors, it seems obvious that installing the x64 version of vista would be ideal. The x64 version has increased security based around the 64-bit structure and programs compiled for 64-bit processors will likely run faster.
What's the problem with installing Vista x64 on a 64-bit system?
Differences in Vista 64 and 32 bit
Which one should I buy? 32 or 64 bit Vista? Some differences in Vista 32 and 64 bit:
There arenít really any big advantages at this stage however technology is moving ahead fast so on the other hand 64 bit Windows is probably a wise investment for the future. 64 bit Windows operates on more chunks of data, and probably the most important thing is more access to ram. Vista 32 bit can only see 4 gigs (actually more like 3.25 GB) of ram the 64 bit version can see over 8 GB which is visibly noticeable when comparing the two side by side regarding speed difference.
Advantages are users who needs lots of ram can get it through the Windows Vista 64 bit version, programs written for Vista 64 will have increased performance, and 64 bit Vista is more secure than the 32 bit version. 
Pros and Cons
A common misconception is that 64-bit architectures are no better than 32-bit architectures unless the computer has more than 4 GB of memory. This is not entirely true:
The main disadvantage of 64-bit architectures is that relative to 32-bit architectures the same data occupies more space in memory (due to swollen pointers and possibly other types and alignment padding). This increases the memory requirements of a given process and can have implications for efficient processor cache utilization. Maintaining a partial 32-bit model is one way to handle this and is in general reasonably effective. In fact, the highly performance-oriented z/OS operating system takes this approach currently, requiring program code to reside in any number of 32-bit address spaces while data objects can (optionally) reside in 64-bit regions.
64-bit systems sometimes lack equivalents to software that is written for 32-bit architectures. The most severe problem is incompatible device drivers. Although most software can run in a 32-bit compatibility mode (also known as an emulation mode, e.g. Microsoft WoW64 Technology), it is usually impossible to run a driver (or similar software) in that mode since such a program usually runs in between the OS and the hardware, where direct emulation cannot be employed. Currently the 64-bit versions for many existing device drivers are not available, so using a 64-bit operating system can become frustrating as a result. However most devices made after February 2007 have 64-bit drivers available as well as many devices made in the later 2006 period.
Because device drivers in operating systems with monolithic kernels, and in many operating systems with hybrid kernels, execute within the operating system kernel, it is possible to run the kernel as a 32-bit process while still supporting 64-bit user processes. This provides the memory and performance benefits of 64-bit for users without breaking binary compatibility with existing 32-bit device drivers, at the cost of some additional overhead within the kernel. This is the mechanism by which Mac OS X enables 64-bit processes while still supporting 32-bit device drivers. 
Currently, most commercial software is built as 32-bit code, not 64-bit code, so it can't take advantage of the larger 64-bit address space or wider 64-bit registers and data paths on 64-bit processors, or, on x86 processors, the additional registers in 64-bit mode. However, users of free or open source operating systems have been able to use exclusive 64-bit computing environments for years. Not all such applications require a large address space or manipulate 64-bit data items, so they wouldn't benefit from the larger address space or wider registers and data paths; the main benefit to 64-bit versions of applications that wouldn't benefit from them would be that x86 versions would be able to use more registers. 
Most users with 64-bit hardware should install the 32-bit (x86) version of Vista.
Vista x64 is the turning point for operating systems as they transition to 64-bit. Currently, however, the majority of users will be very disappointed by installing Vista x64. The lack of 64-bit drivers for most current hardware will be very disappointing and frustrating to most users. The performance gains promised by 64-bit will not be seen for a few years until 64-bit compiled versions of software is the norm.