I called a tech at alesis today. He said that the sr-16 now has a 24 bit converter and it has been out for the last half year. They haven't updated the web site yet. He also said that the sound is slightly better and louder.
I only use the sr-16 as a sound module (it is not my only drum sample source). I usually avoid the samples with reverb and use the dry ones and add eq and a small amount of reverb if needed.