Despite other claims, 16-bit depth is still state of the art for consumer applications.
44.1 and 48 kHz sampling rates in turn should be more than enough. Later is usually preferred
The first should be preferred when listening to music, while the second is used by movies (and I think even the majority of games)
Sure, accurate resampling would be performance irrelevant even on single core computers (and it's now the standard), though it always introduces subtle audio aliasing