Nope...... U have to record at 24...... because when U try to click on the option to record 16 bit with a 24 bit soundcard, a message box will appear and say "WTF are U doing???" and then will switch U back to 24 bit..... heheh but 24 bit is worth it. 96khz... I don't know, I'm happy with 48khz and 24 bit.
Sabith
P.S. Too bad GadgetLabs went outta business...... I have there Wave 424, and I love it (4 ins, 4 outs).