From the day i started using the using windows 7 on my 64 bit laptop, i have been facing issues like sudden hanging and slow green bar loading on explorer..

Then i started to check out errors and i came to know:

The windows media player is a 32 bit version along with the internet explorer along with other software's pre-installed.

I checked for the program files and found that both windows media player and internet explorer are present in program files folder as well as program(x86) Folder...

but whenever i run the program only the 32 bit seems to be running!!!!

Can some please help..

If you want to run IE9 (x64) look for Internet Explorer (64-bit) in the Start Menu.

If you want to run WMP (x64) you should make a shortcut to C:\Program Files\Windows Media Player\wmplayer.exe. The standard shortcut in the Start Menu for Windows Media Player launches the 32bit version.

Just so you know, there is no problem with running 32bit apps in a 64bit OS. I'd say more than 70% of the apps I run in my 64bit Win 7 are 32bit apps.

how to make 64 bit windows media player as default.???

The default for what? If you mean file associations, you'll have to point them directly to the EXE.

I haven't heard of any sort of breakdown/comparison of gain (or whatever) with using the 64bit WMP. What have you heard?

Try

unregmp2.exe /SwapTo:64

to force 64 Media Player usage.