I assume you mean 24/96, and not 48/96.
personally, everything I record these day is 24/96, for a few reasons...
1) I can definitely hear a difference over 16/44.1. it sounds more "real, lifelike, and natural"
2) I often record music that is fairly dynamic. the 24 bit resolution allows me to set the levels a bit more conservatively, and not worry about "wasting bits" by not running my levels high enough.
3) when I downsample/dither a show to 16/44.1 format for CDs, often times, my primary listening environment is my car. in that situation, a very dynamic recording is often tough to listen to. because of this, many times I'll apply some compression. usually just a 2:1 or 3:1 ratio. for any sort of processing, I've found the results to be much more pleasant when the original recording is at 24 bit. much fewer digital artifacts. and of course, I still have the original 24 bit version, unedited and uncompressed, to listen to when I'm at home and listening on my nice playback system.
and lastly, digital storage is relatively cheap these days. so why not record at the higher resolutions if it is available to you.
but, on the other hand, with my new 16 gig CF card, I could, in theory, be recording at 24/192 and still get 4 hours of recording time, enough for most shows. yet, I choose to record at 24/96, because I've deemed 24/192 "overkill" and I think 24/96 is just dandy. so ultimately, you may decide that 24/96 is "overkill" and that's your choice to make. personally, though, I think 24/96 it's worthwhile.