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Why does 48K sound better than 44.1?
Well we're going to disagree on this one. As long as oversampling is used on the 44.1 sample, no higher rate is going to sound different at all. I know this to be true because of sound tests I conducted with a few dozen participents several years ago. In fact, there was an audio magazine (I don't remember which one now) that didn't identical experiments when the first 24-bit workstations came out, and they got the same results that I did. They just did blind A-B tests in rooms of around 2 to 3 dozen people, most of them audio engineers who were convinced beforehand that they could hear a difference, and found that nobody could consistantly tell any difference in the sound.
I've found that when recording at 16/44.1 I can make as many as a half dozen changes to the sound file before any noticable degradation sets in. That's about as many changes as I ever make to a file anyway. And the noise floor is already quite good at that rate. Yes, you have better stereo separation at higher bit/sampling rates, but as soon as you convert back to 16/44.1 for your CD, it disappears completely. The only good reason anyone has for recording at higher rates in my opinion is for surround sound DVDs where those frequencies are going to get chopped up and scattered through the various channels. The more bits you have the better off you are in surround.
I'm not knocking anyone recording at higher rates. I mean, heck, as long as you've got the HD space and a strong computer you may as well. I just don't believe there's any real advantage to it.