As a general rule, developing--or using--a 64-bit operating system, in any context, will be slower than the same 32-bit operating system. Because all pointers are suddenly twice as large, you are far more likely to blow the cache, and can fit less data in RAM. That slows down your application considerably. You normally would only use 64-bit systems when your applications need to address more than 2 to 3 GB of data simultaneously--something very common in scientific computing and some database situations, but otherwise extremely rare. This is why Apple does not advocate unconditionally compiling PowerPC applications in 64-bit mode, for example: the cost due to cache-misses and lack of memory are high enough that going 64-bit only makes sense when you truly can take advantage of the 64-bit space.
But x86 v. AMD64, which is what you're really asking about (since you're discussing Ubuntu), is a very special beast. AMD64 not only extends all pointers to 64-bit; it fixes many, many deficiencies in the x86 architecture, doubling the number of GPRs, simplifying the instructions to be more friendly to modern CPU designs, and more. Because of this, on AMD64 platforms only, you will frequently see a substantial performance boost by going to 64-bit.
There is one other area where, in software development, it makes sense to go to 64-bit: you need to run lots of VMs. Running a couple of VMs can easily blow you past the 3 GB memory barrier of the operating system, making using them very painful. (It will work due to a technology called PAE, or Paged Addressing Extensions, that Intel invented to bridge the gap between 32-bit systems and 64-bit systems, but the result is slow, painful to work with as a developer, and not very well supported on Windows.) Going to a 64-bit OS can provide tremendous benefits.