IIS 64bits and Oracle 32bits

At the office we have new i7 machines with 64bit OS.
I've spent 2hs to find a solution to this problem so it's worth blogging about it.

I had a DNN site using my own BOLayer which in turn used Oracle (10.2)

I was getting this error on IIS : "the provider is not compatible with the version of Oracle client"

Tried almost everything until I've noticed a nice option in the IIS Application pool advance settings:
"Enable 32-Bit Applications" which weirdly enough was configured as false (default value).