I'm trying to install Far Cry on Win 7 Pro and I have the same problem. Can't install from Setup32.exe, either with XP compatibility mode and/or admin rights. I get the annoyingly cheerful "run setup64.exe on 64 bit windows!" error message, and there is most definitely NOT a setup64.exe file anywhere on the disc. Not that it should make a difference, but I'm installing from a disc image because the laptop doesn't have a DVD drive.
Has anyone found a solution for this? I'm wondering about installing an XP virtual machine, but it seems like a lot of hassle just to play a game that I legally own!