When getting into these discussions of bit depth and sampling rate, the debate is endless among audio engineers about the differences. What really makes a difference is the specific gear you use (mics, preamps, processors, a/d converters, clocks, etc.).
Debating the numbers without discussing the signal chain is somewhat ridiculous. A fantastic (great gear) 16/44 chain will sound a lot better than a crappy 24/192 chain. The concept of a signal chain "only being as strong as the weakest link" is of great importance.
That is only the tracking side of the equation. Eventually, individual tracks get mixed down. Your summing bus is the flip side, and there is a lengthy debate over mixing in the box (digital summing) vs. analog summing, which can be done with a traditional mixing console, or with the recently invented category of gear known as "summing boxes." (There are of course many further variations and permutations.)
On top of that, the skill of the engineer will also make a large difference. Those interested in the details may wish to visit a site such as gearslutz.com where these topics are discussed and debated in great detail.
Gearslutz is okay, but the topics are for more amateur IMO. I think best sites/forums to talk about recording audio are the tapeop forums and electrical audio tech forum. You must be warned though, they (generally) have an "analog is better but I embrace digital" mindset.
Debating the numbers without discussing the signal chain is somewhat ridiculous. A fantastic (great gear) 16/44 chain will sound a lot better than a crappy 24/192 chain. The concept of a signal chain "only being as strong as the weakest link" is of great importance.
That is only the tracking side of the equation. Eventually, individual tracks get mixed down. Your summing bus is the flip side, and there is a lengthy debate over mixing in the box (digital summing) vs. analog summing, which can be done with a traditional mixing console, or with the recently invented category of gear known as "summing boxes." (There are of course many further variations and permutations.)
On top of that, the skill of the engineer will also make a large difference. Those interested in the details may wish to visit a site such as gearslutz.com where these topics are discussed and debated in great detail.