Using a small sample group, CNET have concluded that that people cannot tell the difference between Sky’s streaming audio at 48Kbps AAC+ and Spotify’s use of 160Kbps OGG Vorbis.
I spend a lot of time any money making sure I get equipment that records at the highest rates and greatest depth – much of this definition is then thrown away when distilling down into mp3.
Reading about what other recordists think and do, recording at inaudible frequencies is to enable a record to be made that can be used in the future using future tools and devices – considering this and the fact that compressed audio is ‘stickier’ (easily stored, easily interpreted), what is the point of high quality?

even engineers like brickwall limiters with digital distortion.
if it sounds right, it is right.