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24 bit will sound a bit different. Because of the much finer volume gradations, things like reverb tails should decay more smoothly. Some mastering engineers will want you to provide a 24 bit version of your track (if you go for external mastering).
I'd say, if you have a powerful enough system to run in 24 bit, you may as well do it. The final 16 bit CD version will sound better for having all the elements/ effects at 24 bit beforehand. (Of course, there could be some 16 bit samples mixed in there too, which isn't a big issue. They won't benefit from running in 24 bit, but if they're good samples, they'll do just fine)
Overall though, don't get too hung up on bit rates (or sample rates, for that matter). The difference it will make to your sound is unbelievably small, compared with engineering and production skills. There are 16bit, 44.1kHz tracks which sound far superior to anything I've put together at higher bit or sample rates.
So, if you have the computing power, switch to 24 bit. But then forget about that side of things and focus on more important issues.
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