In the current issue of S & V, Tom Scholz of Boston says:
"Digital sounds a lot different than the original source. Things are further compromised when you decrease the resolution to 16 bits from 24 bits or higher. The combination of only 16-bit resolution and only 44.1-kHz sampling rate absolutely demolishes any part of the signal above 10k. If you put a 12k tone, which most people can hear, through a 16-bit, 44.1k sampling at digital conversion, you will be shocked at what that waveform looks like coming out the other end. You can put a pure tone in, and it comes out looking like some monstrous garbled thing......And if you changed that 12kHz signal just a percentage point, the signal that spits out will look entirely different. So every time somebody hits an "s" or a cymbal, or plays a delicate violin or even a raunchy distorted guitar with lots of high frequencies, the high-frequency end of that spectrum is completely mangled into something different. That's why people speak about strange sibilance, or things sticking out or not sounding "right," when they listen to CDs. It isn't right. It's completely different than the original recording."
The interview is with Mike Mettler, the current editor of S&V, who lets this stand without comment, indicating that he may agree with this.