You have to understand why you use these rates. The 16bit relates to how much data is stored in each sample, and the 44100 is how many samples a second there are. If you look at nyquist theory, you will see that a sample rate of 44100 will give you a frequancy range of around 20hz to 20,000 hrz, which is the full human hearing range. So most people will argue no, there isnt much point. However, when you are using plugins which support higher sample rates, they will handle events better and will give a nicer sound (suposedly). I know most recording is now done in 24 bit. 96000 hz, and there is a slight difference to a trained ear.

Its up to you at the end of the day...