Ok.
Digital processors like a GPU are regulated by a clock to keep all their pieces synchronized. Every time the clock ticks, everything associated with that clock does whatever it does once (known as a "cycle"). GPUs have two main clocks that we consumers are concerned with, the core clock and the memory clock. Keep in mind the clock frequency is not a measure of speed or power. Computational power is a factor of: how much stuff the GPU gets done every time the clock ticks, and how many times the clock ticks per second. Clock frequency only tells you the second. The first can't be quantified on a spec sheet, this is why you need to look at benchmarks instead.
A GPU has many processing cores, it's similar to a CPU except it's designed with hundreds of really small cores instead of a few strong ones. GPUs can perform several operations but by far the most common task is 32-bit floating point calculations (FP32) so the bulk of the GPU's cores are FP32 cores. Every time the core clock ticks, they do some amount of FP32 calculation (how much depends on the specific core design). NVIDIA calls these CUDA cores, AMD calls them stream processors. Twice as many cores is theoretically twice as many calculations, if the core design and clock frequency are the same.
The core clock may operate at a frequency of 800-1200MHz typically, though you can usually change it from the default setting. Each GPU does have a limit to how fast it can operate though, and won't be able to keep up with the clock if you raise it past a certain point, which will result in device failure. (Software or even hardware depending on if you change the voltage). Modern GPUs vary their clock speed to save power. When the GPU is not under heavy load, the clock slows down to a very low level, and when it's under a heavy load the clock speed rises. The boost clock is the maximum clock frequency, the minimum is not listed. Base clock is not really meaningful.
The GPU processes a lot of data and has dedicated RAM for storing that data. Graphics cards usually use specialized RAM which is a lot faster than the RAM used on CPUs (although higher latency so not good for use with CPUs). Most graphics cards use GDDR5, which is based on DDR3 but optimized for graphics cards. Previous graphics cards used GDDR4 (based on DDR3), GDDR3 (DDR2), GDDR2 (DDR), or GDDR (DDR). This is called the memory type.
The memory interface is the connection between the GPU and the RAM. GDDR5 is connected via a 32-bit bus, which means every time the memory clock ticks, the GPU can send 32 ones or zeroes across the memory bus simultaneously. The memory clock may tick at a frequency of 6-7GHz or more (6GHz = 6 billion ticks per second). Most graphics cards combine several memory busses together for even more bandwidth, so they'll have maybe 8 or even 12 GDDR5 memory busses being used simultaneously, for an effective 256-bit or 384-bit bus.
As GPUs are powerful and work with a lot of data, memory bandwidth is helpful to a point. Memory capacity can also be helpful to a point, that really depends on what it's being used for.
64 or 32 bit, there literally isn't much difference, 32 bit will just (basically, very basically) limit you to 4gbs of ram. with windows 8, its faster in some ways (eg. has newer dx11 features) but slower in others (apperently people claim the search on windows 8 is slow, but I beg to differ.) . Inorder to mount .iso images on windows 7 you need a 3rd party software with win 8 you don't. Windows 8 has more features than win 7.
I also think the win 7 "glass" looks like a bird shat on it, but thats my opinion.
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