The vast majority of my music is 16/44.1 and my focus has always been to get the most out of the format. The first DAC which proved to me 16/44.1 was "good enough" was the dB Audio Labs Tranquility. According to many the DAC, with it's cheap TDA1543 chip and lousy measurements, couldn't possibly sound good. Apparently dB Audio Labs subscribes to the "everything matters" philosophy of DAC design and proved the naysayers wrong. I still own and use the Tranquility.
A few years ago I decided to explore the high-res world for myself and purchased enough good sounding music to care about hearing it at the native rate. A couple of DACs later and I finally settled on the MHDT Lab Pagoda. This DAC sounds fabulous not only with 16/44.1 but higher rates also. Funny though, I have little interest in high-res at this point. Good old Redbook is all I require.