In VS2012 (and previous versions...), you can specify the target platform when building a project. My understanding, though, is that C# gets "compiled" to CIL and is then JIT compiled when running on the host system.
Does this mean that the only reasons for specifying a target platform are to deliberately restrict users from running the software on certain architectures or to force the application to run as 32 bit on a 64 bit machine? I can't see that it would be to do with optimization, as I guess that happens at the CIL-->Native stage, which happens Just-In-Time on the host architecture?
This MS Link does not seem to offer any alternative explanation and I can find no suggestion of the fact that you should, for example, release separate 32 / 64 bit versions of the same application - it would seem logical that something compiled for "anycpu" should run just as well and, again, optimizations will be applied at the JIT stage.