I've always read 24/48 is pretty much optimal for now (best of all worlds as far as sound/headroom/size)
I use that at home, but also work in locations where 16/44 is the standard so ..

TBH once everything is said and done (mixed/mastered down to CD quality), there's not a whole lot of difference, especially when considering 90+% of listening environments. I get it, during the mixing/recording process 24 bit can help, just talking end result for most PGMusic users.

To consider - what is your end result going to be played on? Youtube, soundcloud?
This answer can skew your whole plan and render any recording bit/rate arguments essentially meaningless due to the conversions that may take place before the end result listener ever gets the recording. A 650 meg source is not going to sound exactly like a 2 meg MP3 or whatever.

.. After that comes what sound system is reproducing the end result?
Even a true 24 bit DVD recording can sound worse on a lesser system ..

To me all these variables make the source rates less and less important.
Just make it sound good! That's the real trick. <grin>

I do not work here, but the benefits are still awesome
Make your sound your own!