The macros _WIN32, _WIN64 and _M_X64 are defined by the compiler. The VS 2008 IDE doesn't know about (some) of the macros and can display wrong information. In my case a section #ifdef _WIN64 was grayed out although the platform was x64. I've added the macros to pyproject.vsprops and x64.vsprops.
I've also added a paragraph about the property files to the readme and fixed the order of pyupdate > pyinstrument.
diff --git a/PCbuild9/bz2.vcproj b/PCbuild9/bz2.vcproj
index fc7d76f..2c16eb0 100644
--- a/PCbuild9/bz2.vcproj
+++ b/PCbuild9/bz2.vcproj
@@ -402,7 +402,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyd.vsprops;.\pgupdate.vsprops;.\pginstrument.vsprops"
+			InheritedPropertySheets=".\pyd.vsprops;.\pgupdate.vsprops"
 			CharacterSet="0"
 			WholeProgramOptimization="1"
 			>
@@ -465,7 +465,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyd.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\pginstrument.vsprops"
+			InheritedPropertySheets=".\pyd.vsprops;.\x64.vsprops;.\pgupdate.vsprops"
 			CharacterSet="0"
 			WholeProgramOptimization="1"
 			>
diff --git a/PCbuild9/pgupdate.vsprops b/PCbuild9/pgupdate.vsprops
index 30ab891..7ce4a3a 100644
--- a/PCbuild9/pgupdate.vsprops
+++ b/PCbuild9/pgupdate.vsprops
@@ -2,7 +2,7 @@
 <VisualStudioPropertySheet
 	ProjectType="Visual C++"
 	Version="8.00"
-	Name="pgoptimize"
+	Name="pgupdate"
 	OutputDirectory="$(SolutionDir)$(PlatformName)-pgo\"
 	InheritedPropertySheets="$(SolutionDir)\pginstrument.vsprops"
 	>
diff --git a/PCbuild9/pyexpat.vcproj b/PCbuild9/pyexpat.vcproj
index 43d1146..2d2cd9d 100644
--- a/PCbuild9/pyexpat.vcproj
+++ b/PCbuild9/pyexpat.vcproj
@@ -390,7 +390,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyd.vsprops;.\pgupdate.vsprops;.\pginstrument.vsprops"
+			InheritedPropertySheets=".\pyd.vsprops;.\pgupdate.vsprops"
 			CharacterSet="0"
 			WholeProgramOptimization="1"
 			>
@@ -451,7 +451,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyd.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\pginstrument.vsprops"
+			InheritedPropertySheets=".\pyd.vsprops;.\x64.vsprops;.\pgupdate.vsprops"
 			CharacterSet="0"
 			WholeProgramOptimization="1"
 			>
diff --git a/PCbuild9/pyproject.vsprops b/PCbuild9/pyproject.vsprops
index c0d7548..2e5c0f0 100644
--- a/PCbuild9/pyproject.vsprops
+++ b/PCbuild9/pyproject.vsprops
@@ -12,7 +12,7 @@
 		InlineFunctionExpansion="1"
 		EnableIntrinsicFunctions="true"
 		AdditionalIncludeDirectories="..\Include; ..\PC"
-		PreprocessorDefinitions="_CRT_SECURE_NO_DEPRECATE"
+		PreprocessorDefinitions="_CRT_SECURE_NO_DEPRECATE;_WIN32"
 		StringPooling="true"
 		ExceptionHandling="0"
 		RuntimeLibrary="0"
diff --git a/PCbuild9/python.vcproj b/PCbuild9/python.vcproj
index 7efa98d..17b29a2 100644
--- a/PCbuild9/python.vcproj
+++ b/PCbuild9/python.vcproj
@@ -318,7 +318,7 @@
 		<Configuration
 			Name="PGInstrument|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -392,7 +392,7 @@
 		<Configuration
 			Name="PGInstrument|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -468,7 +468,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -542,7 +542,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
diff --git a/PCbuild9/pythoncore.vcproj b/PCbuild9/pythoncore.vcproj
index 55a53e9..df1f512 100644
--- a/PCbuild9/pythoncore.vcproj
+++ b/PCbuild9/pythoncore.vcproj
@@ -326,7 +326,7 @@
 		<Configuration
 			Name="PGInstrument|Win32"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -400,7 +400,7 @@
 		<Configuration
 			Name="PGInstrument|x64"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -476,7 +476,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -550,7 +550,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="2"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
diff --git a/PCbuild9/pythonw.vcproj b/PCbuild9/pythonw.vcproj
index 0013e9c..add4684 100644
--- a/PCbuild9/pythonw.vcproj
+++ b/PCbuild9/pythonw.vcproj
@@ -305,7 +305,7 @@
 		<Configuration
 			Name="PGInstrument|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -377,7 +377,7 @@
 		<Configuration
 			Name="PGInstrument|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -450,7 +450,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
@@ -522,7 +522,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			>
diff --git a/PCbuild9/readme.txt b/PCbuild9/readme.txt
index 791edb2..fd3967a 100644
--- a/PCbuild9/readme.txt
+++ b/PCbuild9/readme.txt
@@ -293,6 +293,31 @@
 change the "Runtime Library" from "Multi-threaded DLL (/MD)" to 
 "Multi-threaded (/MT)".
 
+Visual Studio properties
+------------------------
+
+The PCbuild9 solution makes heavy use of Visual Studio property files 
+(*.vsprops). The properties can be viewed and altered in the Property
+Manager (View -> Other Windows -> Property Manager).
+
+ * debug (debug macros)
+ * pginstrument (PGO)
+ * pgupdate (PGO)
+    +-- pginstrument
+ * pyd (python extension, release build)
+    +-- release
+    +-- pyproject
+ * pyd_d (python extension, debug build)
+    +-- debug
+    +-- pyproject
+ * pyproject (base settings for all projects)
+ * release (release macros)
+ * x64 (AMD64 / x64 platform specific settings)
+
+The pyproject propertyfile defines _WIN32 and x64 defines _WIN64 and _M_X64
+although the macros are set by the compiler, too. The GUI doesn't always know
+about the macros and confuse the user with false information.
+
 YOUR OWN EXTENSION DLLs
 -----------------------
 If you want to create your own extension module DLL, there's an example
diff --git a/PCbuild9/w9xpopen.vcproj b/PCbuild9/w9xpopen.vcproj
index 2397366..9fcff7b 100644
--- a/PCbuild9/w9xpopen.vcproj
+++ b/PCbuild9/w9xpopen.vcproj
@@ -285,7 +285,7 @@
 		<Configuration
 			Name="PGInstrument|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -353,7 +353,7 @@
 		<Configuration
 			Name="PGInstrument|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pginstrument.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pginstrument.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -423,7 +423,7 @@
 		<Configuration
 			Name="PGUpdate|Win32"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
@@ -491,7 +491,7 @@
 		<Configuration
 			Name="PGUpdate|x64"
 			ConfigurationType="1"
-			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\pgupdate.vsprops;.\release.vsprops"
+			InheritedPropertySheets=".\pyproject.vsprops;.\x64.vsprops;.\release.vsprops;.\pgupdate.vsprops"
 			UseOfMFC="0"
 			ATLMinimizesCRunTimeLibraryUsage="false"
 			CharacterSet="2"
diff --git a/PCbuild9/x64.vsprops b/PCbuild9/x64.vsprops
index acc3325..c7eabbe 100644
--- a/PCbuild9/x64.vsprops
+++ b/PCbuild9/x64.vsprops
@@ -9,6 +9,7 @@
 	<Tool
 		Name="VCCLCompilerTool"
 		AdditionalOptions="/USECL:MS_OPTERON /GS-"
+		PreprocessorDefinitions="_WIN64;_M_X64"
 	/>
 	<Tool
 		Name="VCLinkerTool"