To maintain backwards compatibility between legacy 32 bit and new 64 bit processes Apple will have to stick two copies of their library into RAM, plus any native applications running in 64 bit mode will consume more RAM than their 32 bit counterparts anyway (12%~ more).
I love how this review is basically "THIS IS THE MOST EXCITING S RELEASE EVER (but I cannot really explain why, here is me dismissing most of the new features of this phone: Evolutionary camera, 64 bit which is meaningless today, gimmicky fingerprint reader, faster A processor which makes it almost competitive with Intel's last generation, etc)."
I think it is entertaining that tons of Apple's fans have been claiming entirely without basis that this phone would have 2 GB of RAM in it and that was largely their explanation for the 64 bit-eating RAM-issue, now it only has 1 GB still I wonder how they'll magic that huge deficit away.
Also, 64-bit addressing may be "meaningless" today if you disregard memory mapping of content (into virtual memory), but , as stated in the review, the 64-bit architecture comes with couple of other improvements including increasing the # registers.
I have an iPhone, it makes a pretty great mobile telephone!
Another way to look at it: if you're not rendering video ... I think we've reached the point where faster (benchmarked) hardware adds little to no functional benefit. So why upgrade?