I would actually like to know benefits of 24bit recordings other than dynamic range? On consumer end, not post production applications.
Higher bit rates mean lower noise floors. 16/44.1 has a low enough noise floor that if you boosted the volume enough to hear the quietest possible sounds that are recorded in the file, the peaks would cross the line into causing hearing damage.
Higher sampling rates mean more high frequency content. 16/44.1 contains all of the frequencies that ideal human ears can hear. The frequencies in 96 and 192 are all beyond the range of human hearing.
Super audible frequencies are sometimes useful in the studio for complex sound filters. Exceptionally low noise floors can be useful in the studio for pulling up quiet sound elements in the mix. Neither of things have any usefulness for playing back commercially recorded music in the home.
There are two links in my sig file under the title is HD audio sounds the same as CD that have good information on this.