There is considerable debate over the benefits of recording and rendering high resolution audio, i.e., systems and formats that are capable of rendering beyond CD quality audio. We undertook a systematic review and meta-analysis to assess the ability of test subjects to perceive a difference between high resolution and standard, 16 bit, 44.1 or 48 kHz audio. All 18 published experiments for which sufficient data could be obtained were included, providing a meta-analysis involving over 400 participants in over 12,500 trials. Results showed a small but statistically significant ability of test subjects to discriminate high resolution content, and this effect increased dramatically when test subjects received extensive training. This result was verified by a sensitivity analysis exploring different choices for the chosen studies and different analysis approaches. Potential biases in studies, effect of test methodology, experimental design, and choice of stimuli were also investigated. The overall conclusion is that the perceived fidelity of an audio recording and playback chain can be affected by operating beyond conventional levels.