I'm NOT an authority on this subject BUT have talked to engineers and mastering engineers about this.
I agree that bit depth is more important but generally higher sampling rates are better. If you are going to be mixing down to CD specs. 16 Bit/ 44.1 k- mastering guys have said to use a MULTIPLE of 44.1 K for the sampling rate - meaning that 88.2K is better than 96K and 176.4K is better than 192K- because of fewer digital errors on ( dithering) mixing down to final CD.
This is only for critical recordings- for home stuff- probably doesn't matter.
Bit rate is much more important even for home stuff- 48K a little better but 88.2K much better for pro.
Oh yeah ,I love to do bench presses while doing real sophisticated solos and arpeggiated rhythms.
It's great because the guitar has become a challenge again.........
When these two things become easy, I may add Tae Kwon Do Katas to the mix, but just the kicks of course.