Think the main difference you heard was the difference between the noise floor of 16 bit and 24 bit converters. Also, better chipsets have fallen in price, and dithering while doing the A/D process have improved. This would account more for a difference in most cases between 16 and 24 bit.
A great way to check this out:
Use a 24 bit converter and record the same source, preferrably something predictable in amplitude like a distorted guitar, with one recording being stored at 16 bit, and the other at 24 bit. Same converter, just two different storage depths. I BET you wont' hear a difference if you do nothing to either file afterwards. Play them side by side and they will sound identical. Of course they will, they both enjoyed a much lower noise floor, and I doubt most on here even have monitoring systems that they can hear more than 96dB cleanly anyway.
Now, compare the 16 bit version recorded with a 24 bit converter to a 16 bit recording recorded with a 16 bit converter. You WILL hear a difference there!
While the difference between 44.1 and 48KHz sampling rates are slight, I still hear a difference. You really start to hear a difference when you stack up the tracks! But, I think that bad SRC is worse than starting out with a lower sample rate. But, this may also be offset again by the fact that a 48KHz file would contain more samples for DSP to work with. This will of course help the DSP do a more effective job.
Probably the best thing would be a outstanding SRC unit. sjoko2 swears by the Lucid SRC he owns. I will not dispute his claims that it offers transparent SRC. He also agrees that working with higher sampling rates with DSP makes the DSP work better. He can enjoy that luxury with a great SRC unit though. I can't afford the unit he is using myself though....
In the multitrack environment, having higher bit depth means less noise. Higher sampling rate means a better detail in the sound, especially in the higher frequencies. Great and all good if you run those tracks out to a analog console that is better than a Behringer of a Mackie. Yes, even analog gear has limitations in the higher frequency is will pass through that is uneffected by phase shift (distortion). Better unit in analog pass significantly higher frequencies than the cheap gear.
Oh blah blah blah.....This gets involved! Not up for it today....
Ed