IE8 installation on Vista home premium 64bit

I installed IE8 from MS official website. It appears that only the 64bit
version got installed correctly. The 32bit file seems to be corrupted. I
reinstalled IE8 three times, removed spybot and disabled Norton Antivirus,
and no difference.

When I try to open the 32 bit iexplore.exe, all I get is a flash on the
screen, and it goes away.

The same happens when I create a desktop shortcut to any webpage. All I get
is a flash when I double click on it. Although the shortcut was created from
the 64 version, it seems to be trying to open the 32 bit version which
ofcourse doesnt work.

Funny and frustrating. Any ideas what is happening?

Joe