The thing that’s always bothered me about DTS 96/24 encoding for DVD (Not DTS-HDMA 96/24) is that it’s limited to 1440kbps (or whatever the DVD PCM rate is). The original DTS was 48/24, then they added 96/24 as an extension. BUT the bitrate was still limited to same DVD rate so it could play.
So although we got 96kHz we got it at half the bitrate, so basically half the info is missing. So to me, DTS 96/24 is twice as lossy as DTS 48/24. Can DTS 96/24 sound better than DTS 48/24?
In fact DTS 96/24 streams are still an ordinary core DTS 48/24 stream, this using the available bit rate overwhelmingly, all the 96/24 extension does is to add a low rate "correction" stream. The core stream still operates at 48kHz (odd but true), even being received in the amp as such, so the idea of the bit rate being halved because the sample rate has doubled is not actually the truth of it. The proof of the pudding comes from the fact that old non-DTS 96/24 amps can still decode a DTS 96/24 stream, they just play the 48/24 core and ignore the extensions. The 96kHz sample rate only takes shape in the decoder in the amp, contrived from the 48kHz core samples plus corrective ones inserted in between them.
As for DTS 96/24 vs. lossless (the original topic), always the latter, DTS is an engineering compromise conveying an engineering compromise, not ignoble but it is still a case of "the fewer the better". However if having no lossless choice I always prefer e.g. a DVD's DTS stream over the Dolby one, somehow the audio is noticeably more precise, perhaps a lack of pre-echo?