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Comments
The quality of your speakers make a far bigger difference than format at the consumer end. 24bit files and nice monitors do sound better than 16 mind you.
I'd struggle to identify 24 versus 16 bit recordings through my main system (B&W 800 series speakers and Parasound Halo amplification, so reasonably good) at anything approaching normal listening volumes/conditions and it looks like this lot did too:
http://archimago.blogspot.co.uk/2014/06/24-bit-vs-16-bit-audio-test-part-ii.html
I have a few hires FLAC albums but I think their sound quality is more down to the effort made mixing and mastering them than their resolution/bitrate.