I would like to add to this;
I have a set and specific Environmental Variable set for my JDK 7 however as some applications I use require the 32bit version of Java, I have installed JRE7 and JRE6 32bit. The advantage is that I can startup the GUI client with 64bit mode and have my stream and transcoder running flawlessly. However my issue is that the service (to have the server on at boot, always, and no GUI to deal with) will run in 32bit. What's more, if I uninstall the 32bit version of Java, the service will perpetually fail to start at boot or manually. I have removed the service, and all entries to it, and reinstalled for the sake of thoroughness, to no avail.