[daeron80]

There's probably not a significant difference in the tracked sound itself when using inexpensive converters. It is noticeable with good converters.

Some plug-ins will sound better at higher sample rates, especially EQs.

If you do much in the way of applying Audio Suite EQ, a high sample rate session will give you a much smoother sounding result, especially when boosting highs. That's because the rounding errors are spread out over a wider spectrum, half of which is beyond the range of human hearing, and you're able to store the result at full resolution.

However, if you're doing relatively large sessions, you're going to run out of mix power twice as fast at 88.2 than at 44.1. Not usually worth that, unless you're recording a small acoustic ensemble in an acoustically beautiful environment using great mics, pres, and converters for an audiophile market.

It's common these days to track and mix at 44.1 or 48, then bounce to 88.2 or 96 for mastering. I think plug-ins sound enough better at 48 that I always track and mix at that rate, master at 96, and don't go to 44.1 until just before dithering the CD master. But it's certainly possible to get good sound working at 44.1.