You're right, Mark, we shouldn't worry about this when it comes to using Pianoteq. I think Pianoteq sounds fantastic and if it improves, it will be due to Modartt improving the model, not because of sample rate.
But I still want to satisfy my intellectual curiosity. I have a background in physics, and have always had a technical interest in audio. I need to know what's going on!
Anyway, you promted me to do some more research, and as Funkasizer says, it all seems to be about signal processing, either in the digital chain, or the DAC roll-off filter. CD players etc will typically over-sample by a factor of 8 to get round these problems. Also, any processing you add in the digital signal path (EQ, effects, reverb etc) probably has less than perfect implementations of digital filters, and running the whole system at a higher sample rate can reduce the errors that they introduce (but be warned, some processors can apparently add more noise at higher sample rates!). At the end of the chain, dithering to 16bit/44.1kHz should be fine for actual listening, unless you have dog ears.
It seems that the same benefits could be obtained by running a 48kHz Pianoteq through a high quality 96kHz upsampler before it passes through the rest of the chain. Maybe that would use less CPU, but if you *can* afford to run the source at 96, then why not.