The patch will work fine running the 32 bit version of the game. The issues in the patch notes involve running the patched version in DX11 on a 32 bit operating system. The game defaults to the 32 bit version, if they did include a 64 bit exe, you can probably find it in the game's folder somewhere, though it won't make any real difference performance wise.
While the patch certainly helps DX11, framerates no longer drop into the single digits, they still have a lot of work to do, in the outdoor areas framerates are still dropping into the 20s for a lot of people when using DX11, regardless of what graphics hardware you have, even the mighty GTX 580 is being brought to its knees, when it really shouldn't be. The patch apparently also...