What's up people..

I have a question for you who own studios. It seems that technology is constantly evolving.. Every second, something is coming out that will "make you sound better"..

I have some questions concerning what would be considered a professional production studio.

Situation One
It seems that the standard for professional audio production right now is 24bit 96k.. My current system can only do 24-bit 48k.. Does the 96 or even 192 make a signifigant difference.. Is upgrading a total necessity..

I currently have a setup that consists of mainly hardware samplers, sequencers, and synths.. I really wish to dive into the software based production. What setup would be the best for that type of work..

My current computer is a HP733 w/2 40 gig Hard Drives, 660 MBs RAM.. It's served me well in the area of recording live instruments, but I have yet to really push it in the area of plug ins. Do I need a faster computer..

I really want to keep my production studio up to par concerning sound quality.. Thanks for any help in advance..