Heh, I just purchased 9 Athlon 64 systems
The Athlon is a 64 bit processor, however they will run 32 bit applications and operating systems with no problems or compatibility issues what so ever.. The Athlon 64s run cooler compared to the newest Pentium 4 designs as well.
There are many things that AMD did with the Athlon 64 that make it a very robust processor, easily the match for the Pentium 4 at similar performance ratings.
http://www.hardocp.com/article.html?art=NTgzLDM=
http://www6.tomshardware.com/cpu/20040106/index.html
Skip to the benchmarks and you'll see where the AMD systems are performance wise with respect to the Intel ones... Some things favour the Pentium, some things favour the AMD.
Plus in general an Athlon 64 system will be cheaper for the same performance. An Athlon 64 3000+ is $240 while an P4 3GHz is $270 or $330 depending on which version you get. Plus good Intel motherboards are more expensive than their AMD counterparts.
So for everything you do today, I would say an Athlon 64 is worth while. Plus in the future when a decent 64 bit version of Windows, drivers, applications, and games come out you'll get a boost from using those.
Interestingly enough, Intel has quietly made the P4 processors they are releasing right about now (Pentium 3.60F processors and above) 64 bit processors! So Intel thinks 64 bit is significant enough to make their processors support it.