In case you don't know, all CDs are WAV files and 16/44. You can't add any more information than is already there so ripping at 24/96 is the exact same as ripping at 16/44.

The only real choices to make are whether to compress (FLAC or ALAC) lossless files or not (WAV or AIFF) or create lossy (mp3 or m4a) files for the smaller size. Honestly, I prefer uncompressed AIFF. Some people say they can't hear a difference; I can. But that's the real choice. Rip some things at AIFF and ALAC and A/B test them to see for yourself.