I suggest you have a chat with Bob Stuart, someone who knows one helluva lot more about digital audio than both of us.
References:
http://www.aes.org/e-lib/browse.cfm?elib=17497 <-- Won the conference award for the best peer reviewed paper. Basically debunked the very damaging and flawed 2007 Meyer-Moran paper which claimed that “HiRes” (>20kHz) wasn’t audible.
http://www.aes.org/e-lib/browse.cfm?elib=17501 <-- Essentially the “MQA” paper.
While these concepts might surprise some, the theory of sampling has evolved considerably since Shannon and Nyquist and, in several other disciplines, such as image processing or astronomy, undersampling can increase resolution with careful application-specific thinking [19][20][21][22][23][24][25][26].
[19] Unser, M. ‘Sampling – 50 Years after Shannon’, Proc. IEEE vol. 88 No. 4, pp. 569–587 (Apr. 2000)
[20] Gensun, F., ‘Whittaker-Kotelnikov-Shannon Sampling Theorem and Aliasing Error’, J. Approx. Theory 85, pp. 115–131, (1996).
[21] Butzer, P.L., Stens, R.L., ‘Sampling Theory for not necessarily band-limited functions: A historical review’, SIAM Review Vol. 34, No. 1, pp. 40–53, (Mar. 1992)
[22] Eldar, Y.C., Michaeli, T., ‘Beyond Bandlimited Sampling: Nonlinearlities, Smoothness and Sparsity’ CCIT Report #698, (Jun. 2008)
[23] Dragotti, P.L., Vetterli, M., Blu, T., ‘Sampling Signals With Finite Rate of Innovation’, IEEE Trans.Sig. Proc. Vol. 50, No. 6, pp. 1417–1428, (May 2007)
[24] Herley, C., Wong, P.W., ‘Minimum Rate Sampling and Reconstruction of Signals with Arbitrary Frequency Support’, IEEE Trans. Information Theory Vol. 45, no. 5, pp. 1555–1564 , (July 1999)
[25]Pohl, V., Yang, F., Boche, H., ‘Causal Reconstruction Kernels for Consistent Signal Recovery’, EUSIPCO, Bucharest, pp. 1174–1178, (2012)
[26] Unser, M., Aldroubi, A., ‘A general sampling theory for non-ideal acquisition devices,’ IEEE Trans. Signal Processing, vol. 42, pp. 2915–2925, Nov. (1994)
My apologies that many/most of these papers are not free to the public.