I'm out of my depth here, as well, but the Itanium is not the only Intel 64
bit processor--
http://en.wikipedia.org/wiki/Intel_Core
The Core 2 processors are also 64 bit--and quite different from the
Itaniums.
As I understand it, the same 64 bit versions of Windows run on both the
Intel Core 2 processors, and the Athlons from AMD. The Itaniums and the
Alpha's were specialized--primarily used in servers and perhaps
high-performance workstations. The newer AMD and Intel Core 2 processors
will be on everyone's desktops in a few years---they are what is available
in quantity these days for OEM use.
The issue with 64 bit versions of the OS is still drivers. The hardware
drivers need to be written for the 64-bit processors, as do some system
software--antivirus, for example. And there are just not enough such
drivers out there. At this stage, you really need to buy a machine with a
64-bit OS on it ready made from the OEM--who will make sure that drivers are
available for what they put in the box.
This will change, but it hasn't yet. For example, very few new pieces of
Microsoft hardware come with 64 bit drivers at release time. And if
Microsoft can't manage this, the rest of the pack is still further behind.
There has been talk that future server versions of Windows will be available
only in 64-bit versions. This makes lots of sense--servers have a
relatively limited and carefully chosen hardware set, and don't run much of
the software that a home user might. I'm not clear when that will be--looks
like not Server 2008.
--