This is quite interesting. An excerpt:
Is there truly a noticeable difference between MP3s and 192/24 files? Absolutely, but everyone owes it to themselves to listen and compare. In most cases the differences between CD-quality and 192/24 are at least noticeable, and frequently, they are stark. Skillfully mixed and mastered music with a wide dynamic range benefits dramatically from a hi-res workflow. For recordings such as symphonic film scores, classical music, or other recordings that feature acoustic instruments, hi-res audio is a perfect fit—the increased audio quality can be appreciated by virtually anyone who hears it. In the experience of this committee and the audio professionals we interviewed (including numerous rock, pop, and urban producers and engineers whose work is aggressive and powerful), recording, mixing, and mastering at resolutions 96/24 or better results in a final product that is both sonically superior and faithful to the sound of the final mastered mix.