Hi Niteen,
If you want to install both ProClarity Analytics Server and SQL Server Reporting Services on the same box then you need to use the 32-bit version of SQL Server Reporting Services.
There is no way around this I'm afraid - PAS is a 32-bit only application and requires IIS to be run in 32-bit on Windows 2003 x64
There can only be one instance of IIS on a Windows 2003 server and the Enable32bitAppOnWin64 metabase property is a global setting which affects all sites on that server.
To workaround this limitation we have installed RS on separate hardware in order to scale out.
Regards,