Well worth a read.
http://aharden.wordpress.com/2011/02/23/the-future-of-commercial-recorded-music/
The recording industry cant even use 16 bits effectively, and they want to make consumers think that 8 more bits is automatically better in quality. I can just see the ads now: New 24-bit iTunes HD; its 8 louder!
http://aharden.wordpress.com/2011/02/23/the-future-of-commercial-recorded-music/