We are talking here about technical issues, and reasonably well settled ones at that.
All engineering endeavors (as opposed to actually composing/arranging/orchestrating/playing) are an exercise in optimization. All engineering endeavors, including audio engineering. In order to optimize you need to know the limits of all the elements of a system, in our case the listener, the listening environment, the signal sources, and the processing engine, which includes any code used to mix and/or render.
All before we take into account personal taste.
For recording a live source you simply don't need more than 24 bits because, as stated earlier, the A/D converter can't match that. For the same reason fixed point is more than adequate. As stated previously, you can never increase the resolution in terms of frequency response or noise floor, what you record is what you get.
Sample rate is slightly more complex! If you are in a really quiet room with really good microphones, really good preamplifers, NO analog processing (unless you want to capture all the artifacts, which by the way will limit the dynamic range and pass band further) and a great instrument (great player doesn't hurt either) - if all of that is true then I'd probably record at 96 kHz. Otherwise 48 kHz is more than adequate.
I'd record at 96 kHz in order to preserve - in the recording - as much of the original signal as possible, or more even<G>! Keeping things as good as you can until the final mix is a great idea, and no, I don't think it is lost on us old folks (get off my lawn). Most of us "grew up" in a time when even 96 dB S/N ratio was unobtainable, and unnecessary since neither FM radio nor vinyl discs could reproduce it<G>!
Fortunately (for me) my recording space is awful - ok, that's not entirely fortunate, but it does mean I have no excuse for recording at anything more than 48 kHz/24 bit fixed point. Which means that I don't need to consider processor power or disk space (I suppose I could probably get away with 44.1/16, but even I won't go that far!)
Where things get more dicey - a lot more dicey in some cases - is when we start manipulating the audio data. All processing in the digital domain is nothing more than math and the limits of precision and accuracy are well understood.
But if you have the horsepower why not work at greater word length? You only lose disk space, and maybe processing power in extreme cases. You won't hurt the audio, but you won't improve the source, and that is important.
For my own case, I can hear the difference between different sample rates and word lengths for some plugins (most notably some of the UA stuff). Well, I can hear the difference in a proper studio, in my studio these things have no impact. So that's another issue for optimization.
With respect, without something to compare I really can't comment on the tracks at 1331.space with respect to this discussion. Personally I found many of the tracks to be a bit too busy for my tastes, and in some cases perhaps over processed (this coming from me is almost comical!).
TL;DR
All this to say, if you are able to work with at least one order of magnitude greater resolution than you need you will be just fine.