So, I finally upgraded from i386 to x86_64 (lib64) libraries on my 64 bit machine at home! I am happy to say that the upgrade was not very painful, but it was very involved. I had to do a fresh instal of Fedora 7 (no longer called Fedora Core, they've merged Fedora Core with Fedora Extras). I still have about 10 more applications to integrate, but they are peripheral apps that could wait a while.
Here's an interesting CIDR Mega Cheat Sheet i found: http://www.oav.net/mirrors/cidr.html

So I am going through all these programs which were installed (which I don't use) and I started to notice duplicate programs:

$ rpm -q firefox
firefox-2.0.0.4-2.fc7
firefox-2.0.0.4-2.fc7

GRRRRRRRRRRR. So apparently, I did some deeper investgation, and noticed that they were both the i386 and x86_64 version. Pheh.... what's the point. I posted to fedora forums this question and got a link to :

http://docs.fedoraproject.org/release-notes/f7/en_US/sn-ArchSpecific.html#sn-rpm-multiarch