Does the Intel partnership signal the end of 64-bit processing?

I read the white paper on the new Intel chips that Apple is incorporating and found, to no surprise whatsoever, that they are the same 32-bit crap that Intel is famous for. My question is: Does this mean that Apple will no longer be developing an OS or software for 64-bit processing? One of the reasons I bought a G5 was the promise of even greater performance in the future when more applications came online that fully utilized my G5's potential. Will those products no longer be forthcoming. No one has addressed this issue, that I can find.

September
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