I would like to know why 64 bit processors are better/worse than there 32 bit (or however many bits they have int the p4's) partners. Would my current p4 3.2ghz run slower than a 64 bit 1ghz processor, and if so why? I ask this because im in the market for a new mobo and cpu, and I hear allot about the amd 64s and how great 64 bit computing is. However, I have also heard that we dont really have any use for the 64 bit cpu's quite yet. Also, if amds 64 bit cpus fare better in preformance than intels 32 bit, why doesnt intel make 64 bit cpu's?

Intel does make 64-bit CPUs , but they are not compatible with 32-bit Operating systems, such as Windows W2K or XP. They only work with the (still in beta) Windows XP-64 or similar.
AMD64 work on both 32-bit AND 64-bit, which gives them a huge advantage.
There are currently very few 64-bit programs available, and 32-bit is still the norm.
AMD64 again can also cope with older 16-bit systems (again, Intel 64-bit can not).

The GHz denomination is slowly being overhauled, Intel gives their CPUs already different names (that tell you absolutely nothing, unless you have the specs in front of you). Examples: Intel D550 and D650. What does that mean? I haven't got a clue.
Intel P4 3.4 D550 Prescott LGA 775 / 1MB cache / 800MHz:
Intel P4 3.4 D650 Prescott LGA 775 / 2MB cache / 800MHz:

When Intel says 3GHz, it runs at 3GHz. When AMD says 3000 or 3000+, it means it is comparable in speed to an Intel 3GHz. Effectively that AMD 3000 will run at only around 1.8GHz, but AMD CPUs are more efficient and develop less heat than its Intel equivalent.

So, whichever way you look at it, AMD64 is currently the way to go, if you want to be future-proof for some time to come.

Thanks allot for clearing up the 64 bit deal. Now I can finally settle on a cpu and get my pc under way.