Whoa, everyone slow down

Simple answer:
Live does a lot of operations like freezing as 32bit files (I believe 32bit float, but maybe fixed point), because they can't be sure that you're not clipping a track when you do the freeze operation for instance. It's my understanding that a 32bit floating point file uses the same 24bits to capture the audio signal that a 24bit file does, the 8 extra bits are there to just capture any signal that would normally exceed 0dBFS in a fixed point file.
Long story short, as long as you're not clipping anything anywhere (and you shouldn't be anyway tsk tsk), there's nothing to be gained from using 32bit versus 24. It doesn't offer better sound quality, only larger file size.
In the Audio Fact Sheet they recommend using 32bit files to remain nuetral, because if you were freezing a track that was clipping, converting it to 24bit would result in a clipped audio file, where as the 32bit floating point file could still capture the signal without clipping.
So yeah, there's nothing wrong with using 32bit files for everything, but if your signal never clipped anywhere, then you're really only increasing for file size by 1/3rd for nothing. I always recommend people use 24bit, and just follow good practices when it comes keeping your levels out of the red.
This is a very simple explanation, if any of the math or dsp wiz's want to correct my semantics, or expand on this, please feel free.
