It's almost as if the people who developed the CD 40(?) years ago knew what they were doing when the chose a 16bit/44.1kHz sampling rate. Who would have though? Bits define dynamic range and sampling rate defines frequency bandwidth. The typical "stair-step" representation of digital audio is very misleading. Here's an engineer's description of how digital audio works which finally made me understand it. And yes, for standard listening at home, I don't think there's much value in anything higher than 16/44.1