They both work well. The difference is really in the amount of memory you want to address. 4GB or more, you will need 64-bit. Generally though, most games are coded for, and run perfectly fine under, 32-bit.
More and more, games are relying on large amounts of physical memory. I recently tested Dragon Age: Origin on both 32-bit (x86) and 64-bit (x64) and it definitely worked faster and better on the x64 machine with 8GB of memory, than it did on a x86 machine with 4GB (only 3.2GB addressable).
-Skater
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