digifish, this thread is getting sidetracked by needlessly provocative postings. Let's try to stay on the subject, or else start a new thread called "How can I argue about 24-bit recording?", OK?
As to the point of all this: Very few people listen to 24-bit recordings as such; much more often, 24-bit recording is used for "sound acquisition," and the result is then normalized in level and dithered down to 16-bit for listening and delivery.
If you record in a 16-bit medium for 16-bit delivery, you must set your recording levels as high as possible to get the best possible signal-to-noise ratio. But in live recording, this exposes you to the risk that unexpectedly loud sounds will ruin your recording. The risk can be reduced through experience but never eliminated. It makes live recording a tense affair at times, especially when--as with most recordings that I make--one is the only person recording the event. (I record classical concerts and recitals professionally.)
24-bit recording is extremely useful for live performance recording because it allows you to set recording levels conservatively without giving up the full signal-to-noise ratio of the eventual 16-bit delivery medium (CD or whatever). It takes away the fear, increases the reliability of the process and restores the fun. To me that's been worth a lot.
--best regards