I figure that very few mp3-players, smart phones or car stereos would play anything but 16 bit.
As far as the mp3-encoder which comes with Sonar, the encoder is ok but is should of course be included in the basic version of any DAW. Come on, the world's most used music sound format! It also surprises me that in CW's world the default bitrate is 128 kbit/s - this is easily changed but why this lousy quality as a not adjustable default setting!?