Personally and for my small company, I'm not at all disappointed in the Office suite update. 64-bit apps are a non-issue to me, even as an Office suite app user before Office even existed (1989) - when was the last time you worked on an Excel workbook that needed more than 2GB of file space or 64,000 worksheets? Excel isn't intended to be a repository of data - it's a data processor, and I've helped design two light rail lines and report budgets of tens of millions of dollars (in one workbook) with Excel's help. As to Word/PowerPoint, the same file size constraints apply, and I really don't use Outlook for the Mac yet - it's only been out of beta for a few days now...
The bigger issue IMHO with the Office apps relative to 32/64-bit is that - in my office - all 14 of the add-ins we use are all 32-bit and won't work with 64-bit apps - on both Windows and OS X, an "issue" that MS has tried to address for several years now on both OS platforms - I'm having the exactly the same problem related by bubsdaddy. Most of the add-ins developers wrote their code in older code and won't update them or they're just too damned lazy, likely the former perspective because there's not a lot of coin in that realm any longer for most of them. My Win Office installs are all 32-bit, as is the Win OS. If you "need" more data headspace, then you're not using Office apps - you've already made that call to Oracle or one of their competitors....