I can’t answer for Paul!
What happened was after I upgraded to Waves V9…Cubase 6 32bit as well as 64bit would hang while trying to exit! So, it wasn’t about 32bit or 64bit, but rather a Waves V9 and Cubase 6.0.5, 6.0.6 issue (with my system)!
Since others didn’t seem to be having the same problem I was having… I decided to go back to the last version that worked for me, which is Cubase 6.x.x and Waves V8.
After re-downloading V8 with the Waves installer, I kept getting error messages saying I didn’t have the correct licenses! So at that point I just wanted to get back to my previous working solution! I de-installed V9, but the uninstaller left the V9 Waveshells in my VSTplugins flolders, and as a result I continued to get error messages saying I didn’t have any licenses. Once I removed the V9 Waveshells, and re-installed the I-Lok software…I was back in business!
My way of dealing with this situation may be a little unorthodox, but I asked as many people that I knew to ask…Including Waves tech support who indicated to me that the problem I was having was a known problem! The fact that it seems to be effecting only me and know one else that has answered this thread, suggests that it may be related to my system!
Either way, my system works with V8 and not V9… and my system passes the documented minimum requirements.
Until I successfully install all the software on a different computer I won’t know if the bug is just on my laptop, or applicable to multiple systems.
One thing for sure though…It’s been a PAIN IN THE ASS! 
I’m sure I will eventually get it sorted, but it may take some time! 
Al