In live recording, if no processing (not even mastering) is 2 b added, then recording in cd rez is best.
However, if any mixing or mastering is 2 b applied, higher rez may b needed.
No single general answer, Im afraid. Every case should b contemplated. It IS important IMHO that the engineer is acquainted with the theoretical considerations of level and rez.
3 different issues:
1) Trax sound: Some projects need hi rez sound (32, 24 bit) some ppl like low rez. The higher the bit rate = more detailed, transparent sound.
2) Mix headroom: 1 has 2 take in2 account the mix BUSS. Not unlike analog consoles, the 2buss is limited. The more trax, less the headroom. Summing up ur 128 hi rez trax will result in chopping off bits of the individual trax. Noise (dither) has 2 b added 2 avoid near-zero distortion. In that case 4 x, low level (or low rez) tracks might not b a bad idea.
3) Final resolution: if 4 CD, rez will b 16bit / 44.1 KHz. Getting there with minimum damage is still an art. I hate digital rez conversions, Im not 2 keen on UV22 sound as well. (Good) analog still sounds best 2 me. Ive yet 2 find the DAW that consolidates 1:1, furthermore downgrading bit rez
Get a (good) ¼ / ½ inch tape in the way- even better.
Not unlike the analog world, there is no single formula. Like there is no sure way 2 record every SNR, so there is no way 2 decide on bit rez 4 every step of the way.
When I record in digital and I know I'll b mixing in digital, I set the levels so that in the mix faders will b ~ 0dB. Of course, I have 2 take in2 account the individual track rez, and the softwares 2buss headroom.
When mixing in analog through individual outputs, Ill keep levels at max. Faders not @ unity gain (especially in PT) will f.u.c.k the sound up.
Still, this is theory
:-) I know Ill b lis10ing 2 these trax through software 4 a few weeks, making decisions based on the recorded sound, so I compromise and record less-then-max
Best IMHO is level = 0VU, system calibrated @ 16 dB headroom.
Peace,
Zooot.