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Wikipedia said:32 vs 64 bit
A change from a 32-bit to a 64-bit architecture is a fundamental alteration, as most operating systems must be extensively modified to take advantage of the new architecture. Other software must also be ported to use the new capabilities; older software is usually supported through either a hardware compatibility mode (in which the new processors support an older 32-bit instruction set as well as the new modes), through software emulation, or by the actual implementation of a 32-bit processor core within the 64-bit processor die (as with the Itanium2 processors from Intel). One significant exception to this is the AS/400, whose software runs on a virtual ISA which is implemented in low-level software. This software, called TIMI, is all that has to be rewritten to move the entire OS and all software to a new platform, such as when IBM transitioned their line from 32-bit POWER to 64-bit POWER. Another significant exception is IBM z/Architecture which readily handles applications concurrently with different addressing expectations (24, 31, and 64 bit).
While 64-bit architectures indisputably make working with huge data sets in applications such as digital video, scientific computing, and large databases easier, there has been considerable debate as to whether they or their 32-bit compatibility modes will be faster than comparably-priced 32-bit systems for other tasks.
Theoretically, some programs could well be faster in 32-bit mode. Instructions for 64-bit computing take up more storage space than the earlier 32-bit ones, so it is possible that some 32-bit programs will fit into the CPU's high-speed cache while equivalent 64-bit programs will not. In basic terms moving 64 bits at a time to perform otherwise 32 bit work simply requires more processing effort to/from memory. However, in applications like scientific computing, the data being processed often fits naturally in 64-bit chunks, and will be faster on a 64-bit architecture because the CPU will be designed to process such information directly rather than requiring the program to perform multiple steps. Such assessments are complicated by the fact that in the process of designing the new 64-bit architectures, the instruction set designers have also taken the opportunity to make other changes that address some of the deficiencies in older instruction sets by adding new performance-enhancing facilities (such as the extra registers in the AMD64 design).
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:
Some operating systems reserve portions of each process' address space for OS use, effectively reducing the total address space available for mapping memory for user programs. For instance, Windows XP DLLs and userland OS components are mapped into each process' address space, leaving only 2 or 3 GB (depending on the settings) address space available, even if the computer has 4 GB of RAM. This restriction is not present in Linux or 64-bit Windows.
Memory mapping of files is becoming more dangerous with 32-bit architectures, especially with the introduction of relatively cheap recordable DVD technology. A 4 GB file is no longer uncommon, and such large files cannot be memory mapped easily to 32-bit architectures. This is an issue, as memory mapping remains one of the most efficient disk-to-memory methods, when properly implemented by the OS.
The main disadvantage of 64-bit architectures is that relative to 32-bit architectures the same data occupies slightly 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 31-bit address spaces while data objects can (optionally) reside in 64-bit regions.