At the last Chaos Computer Club conference in Hamburg, Germany, probably the biggest indie programmers conference in Germany, a talk about the structure of Leopard discussed this issue. It was made clear that the kernel is still 32 bit, but it was concluded that as long the kernel does not need more than 4 GB (2 GB?) of memory itself this does not really matter, and the kernel itself is certainly for from needing this much of memory (except that caching might make use of more memory).
http://chaosradio.ccc.de/24c3_m4v_2303.html

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