This topic got touched on while discussing 12 vs 14 bit DVD players. It's probably better to talk about it on a separate thread.
My belief is that if you have 16 bit 44 Khz sound and you upsample it to 24 bit 96 Khz it will still sound like 16 bit 44 Khz sound. If it doesn't then the hardware is mangling the sound and not doing proper digital to analog conversion. The only place for upsamplers is in sound editing where after you upsample you can actually add elements that are 96/24 to the source which was 44/16.