Some relevant information:
Digital Sampling & Fidelity Issues
Some points: CD Audio's top frequency is 22050 Hz (nominal), at which frequency there's no difference between saw, sine, square waves - it's all "sine", end-to-end, only top and bottom sample coordinates.
Nyquist rate ought to be three times the audio frequency to provide enough detail for wave drawing. 96000/3=48000. 44100/3=14700. CD Audio mangles overtones, which is what violin (and brass/woodwind) players notice.
That a human cannot hear 35 KHz tones doesn't mean the ADC and/or anything in the filter chain can't. Lowpass filters can (depending on construction) cut off the actual peaks of waves, turning sine waves into saw/square-like.
Again, this is something musicians and analogue listeners will notice more readily.
Finally, the 44100 sampling rate is really stressing on the analogue filter stage of a DAC, even more so with the typically companded modern CDs with an average loudness of -20 - -12 dB (Oasis having set a "record for a record" with an average loudness of -12 dB on "What's The Story"). 96000 voltage steps is a lot smoother than 44100, and that's what oversampling helps with when playing CDs, too.
Bigshot is making the classic mistake of mixing up dynamic range and loudness. Dynamic range in digital audio defines the accuracy of reproduction; as a simple example, a Cowon D2 player with 95-dB signal-to-signal-noise ratio will sound crisper and more detailed, with a much better presence, than a portable CD player with an 80-dB SNR. And, it doesn't have to be driven to full 95 dB loudness (actually, it could do in excess of 100 dB with the right headphones/amp - but still with a
definition of 95 dB, just like a noise gate at -50 dB actually "thins" out the sound even if it's applied to a recording that'll have the full 96 dB range, silence-to-peak) for that detail to come out - on the contrary, it is that detailedness that makes listening at lower volumes possible. Headphone amplifiers also increase dynamic range, bringing out detail, in the same way.
Digital audio can be a very confusing subject as it requires concentration on the exact procedures used to achieve an end, and noticing (not ignoring, of course, trying to live in an illusion of "bliss") the problems with certain methods. What makes many people give up is the lack of correlation between perception and logic. It is there, it just has to be examined thoroughly by perception of processes as well as noticing of the actual "warmth" of sounding, the transmission of musical energy.