Think of a 5K sine wave. A 44k sample rate can only detect its phase to within 5000 / 44100 * 360 = 41o. What happens when the note that that 5K is part of is being played on guitar with some vibrato and dying down. How accurately will the phase be represented then?
The problem is that there seems to be no definitive answer for all this, so I err on the side of engineering conservativeness and tend towards over-engineering. That Universal Audio has bet their reputation on it without advertising it, tends to back up my decision.