I've downloaded the 64 bit Version of iTunes and I'm wondering why it's running as a 32 bit application under Windows 7 (of course 64 bit)?
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The 64-bit version of iTunes you downloaded contains 64-bit drivers for Windows 7, however the application itself is still a 32-bit application. You should see your iTunes installed in (default) C:\Program Files (x86)\ and the iPod helper files installed in C:\Program Files.