So you're asking,
if you take an mp3 convert it too a *.wav file at 16bit 44.1 khz will it sound better then it was as an mp3.
No...
If this were the case, audio files wouldn't be so large to transfer, everyone could cut them down to tiny files, then convert the back to waves! it'd be great! but It doesn't work like that.
After you've compressed it, you cant bring it back.
Scott