I used to be in the "synchronous rates" (even multiples, as it were) only camp but I've since become convinced that the best SRC can deliver conversion from 48, 96, or 192 down to 44.1 with few or no audible artifacts. BUT not all SRC is created equal. The SRC-ware that ships with popular DAWs like Sonar, Logic, and Cubase appear to be considerably less accurate (not to say horrible) than the very best.
I, too have heard good stuff about R8Brain (there's a free version that rolls off over 18 kHz and a pay for that's good up over 20 kHz).
This utility might prove useful for comparison: SRC Comparisons
It's not instantly intuitable, so poke around 'til you understand the GUI, but it's pretty cool for comparing any two SRC-wares.
[PA... the SRC in Sonar 6 looks like it may be improved a little; Cubase is no longer listed but Nuendo's SRC looks OK at a glance; and Logic users will probably want to get the free R8Brain, at the very least.]