16-bit 48KHz is a bit of an odd option, as this is really the video sound standard. CD/Audio standard is 16/44.1
As 16/44.1 is CD quality, I would say that it is way plenty for any public performance, including your bedroom.
Having a 24-bit/48KHz sound card actually does nothing extra for playing your music. You can not make something better out of something that isn’t there in the first place.
These specs ARE important for recording purposes as it allows you to have higher quality source material to work with in a DAW (Digital Audio Workstation) software. There is a definite advantage to manipulating sound in a higher format due to things as dynamic range and frequency resolution. Mind you, if you are serious about recording stuff, you should be looking for 24-bit/96KHz sound cards or better (although better is not really necessary).
But even in a studio recording situation, once a track is mastered and finished it is converted (bounced) down to 16-bit/44.1 WAV format for distribution. So, unless you produce your own tracks (which you do in a DAW and can thus decide to use 24-bit/48KHz for) and don’t bounce them to 16/44.1 WAV, there is no real advantage in using a sound card with higher specs than 16/44.1.
That said, not all sound cards are created equally! Like with everything there are high-end components, low-end components and rubbish components. Without testing them I am confident that a 16/48 sound card in a 99 dollar Zomo controller will not be the same as the 16/44.1 sound card in a high end controller that costs 7 times that amount (like the first MC6000 had for example). Another part of the equation is the actual sound, some sound cards are considered “warmer” others more “crisp”, depending on their coloration (EQ) of the sound.
Personally I would never spend money on something like the MC1000 as it lacks too much things I like when DJ-ing (like jog wheels and pitch faders!), but that is just me.
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