EDIT: I commented below on a misleading answer, but the answer is you only need the 32-bit redistributables, as Karel Petranek answered first.
This is not an answer. It should only be a comment, but since I don't have the required reputation for that...:
I just wanted to warn people against Ruel's provided information. No, the 64-bit Visual C++ redistributable packages don't also include the 32-bit DLLs.
I have even tested that (his) theory. I tried to run an application that requires Visual C++ 2010 32-bit redistributables and it prompted me that it needs that. I then installed the 64-bit one, and it still prompted it needed the 32 bit version of Visual C++ 2010. After installing the 32 bit one, it worked.
Why people come up with theories and provide them as answers beats me. Or maybe he was also "encouraged" by the reputation system to give not only superfluous, but also false information. Or maybe he just confused C++ with DirectX 9 redistributables (that one does install both 32-bit and 64-bit DLLs).