Even in a multi-million dollar studio, anything over 48k is pointless. It simply gives you the ability to record frequencies that aren't there, the mics wont pick up, and we can't hear. That ability costs hard drive space, track count andplugin instaces. Totally not worth it.
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More to the point than hitting sampling rates above 48kHz is the
bit depth.
The difference between 44.1kHz and 48kHz is clearly audible to a moderately good listener with little or no ear damage. Sampling rates above this tend to be a little excessive.
However the difference between 16-bit and 24-bit sampling is "night and day" - even at 44.1kHz. They increased availability of dynamic range afforded by those extra bits throws the noise floor miles further down. Even with a cheap interface like a 48kHz "gaming" sound card or entry-level M-Audio/AVID
Fast Track interface and similarly entry-level Behringer C1 or C2 microphone, the difference is like the difference between AM and FM radio.
It's also sensible to record using settings that are likely to be available on friends' equipment. Showing-off and working at 192kHz, 32-bit floating point is all well and good, until you discover your musical partner only has 48kHz, 24-bit.
Switching between 16-bit/24-bit makes a clearly audible difference even with cheap microphones and "domestic" sound cards; the difference between 48kHz and 96kHz is rather less profound, even in top-flight pro
studios.
Also - 192kHz require 4 times as much storage-per-second as 48kHz. Far better to record at 48kHz and put the money saved on disc space towards better microphones. The microphone is the key, key factor to good
acoustic recording - anything lost by a poor microphone cannot be retrieved later.