There is already ample evidence that many hi-res issues have far more care taken with the mastering (in many cases, quite possibly less "mastering work" being done). Such re-issues may well sound better, but that's nothing to do with the format per se.
I can transcode more or less anything down to 16/48 and I would challenge you to distinguish between that and the original with any kind of statistical accuracy. You might be able to do so, but then again...
You only need listen to any ECM red book CD to know there is nothing wrong with 16/44.
For those curious, try this:-http://www.amazon.co.uk/Biber-Muffat-Anmarsch-Assenbaum-Mortensen/dp/B0000XK7LE/ref=sr_1_7?s=music&ie=UTF8&qid=1314200443&sr=1-7
I found this through the music section here, but I can't remember who posted the recommendation. If the person who did reads this, Thank you, I really like it.
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