mrfranswa's got it right

For 300$ a 5850 is a great card.
The main difference between a 64 bit OS and a 32 bit one is how it handles memory. 32 bit can use up to 4GB, this includes video card memory as well. So if you were to buy the 1GB 5850 only 3GB of additional memory would be available, effectively making 1GB of your current 4GB memory unusable. 64 bit OS moves that cap up to 128GB. Other features of a 64 bit OS relate to memory accessibility, memory management, and enhanced security features.
For the power supply your setup will need at least 500w of power, more if you want headroom for future upgrades.
To check your computers power supply open the case's side panel and look for the box typically on the top or bottom of the computer case with 100 wires sticking out of it. It SHOULD have a sticker on the side giving you the brand name, the wattage and other information. I will examine the PSU I would recommend to you if yours didn't have enough power.
http://www.newegg.com/Product/Product.aspx?Item=N82E16817371030
I can see from this that its a Corsair PSU supplying 520w, as indicated beside the "1." You can also see the the exact model listed just below.
The next thing to look at is just how much of that 520w's of power is able to be supplied to your processor, graphics card and hard drives. These devices all require 12volts of juice to be supplied to them.
The 3.3v and 5v rails generally aren't as important a consideration in modern computers as power demands have gotten higher.
Cheap PSU's abuse this oversimplification. People might see 520 watts and think its enough power, but lets say that its a really cheap PSU and only 60% of that power is able to be supplied to 12v rails. This could mean all your modern computer parts that need the 12v power won't get enough juice.
"2," you can see that this power supply has 3 +12v rails. What does that mean? Well, its mainly for safety reasons. There is a maximum amount of current allowed to be running though any given rail, so its mealy dividing the current into multiple rails distributing the load. If you were to run all that power though one wire it might heat that wire up and cause a fire. However some more expensive PSU's will have a single +12v rail configuration. So whats the difference? Well, there is a slight difference, but all in all it shouldn't be your main consideration when choosing a power supply.
"3," each rail has its own maximum Amperage or the maximum current allowed per rail. One might think 3 rails X 18A each makes for 54A of power. OR 54A X 12V = 648W. However thats not correct because while the 3 rails CAN carry a maximum of 54A or 648w's the total power available from the power supply is only 520w, so we know that can't be right.
"4," This is where it tells you that limit, MAX COMBINED WATTAGE. It tells you that of the 520w total, 480w of that can be supplied to your 12v rails. 480w / 12v = 40A.
I'm sorry, I think I went a little to in depth there for just a PSU recommendation but hopefully the information is helpful. Your setup probably needs about 450w of power, having 480w on the 12v rail just ensures there is enough there. You can find power requirements here. I would say you usually want at least 50w-100w of headroom added on though.
http://c1.neweggimages.com/BizIntell/tool/psucalc/index.html?cm_sp=Cat32_PowerSupply_left-_-PowerSupplyFinder030510-_-http%3a%2f%2fpromotions.newegg.com%2fproductfinders%2fpowersupply.jpgIf your looking for another PSU I recommend Antec, Corsair, Seasonic and Enermax as the top PSU brand names. Others like cooler master, OCZ, thermaltake, kingston I would trust as well. Just try to stay away from no-name generic brands, a power supply is one of the most important parts of your computer. I have cheeped out on PSU's before and its not fun. They have cheap components that break down quickly, neither of my two cheap 50$ 600w PSU's had survived more than 1-2 years. They can "ripple" meaning the current isn't steady and that can cause system hangs, random restarts and jitter.
Also there is less over voltage protection, one of these PSU's unloaded on my old 9600GT graphics card and the memory chips on it caught on fire, effectively destroying it.
I now have a really high end rig and I would not even think about putting a cheap supply near it. I have learned my lesson, I will never go near another cheap PSU again.