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Don't turn on dithering unless this is the final render and you won't be processing the file again. If you have a Waves Lx on the master, you'll probably want to disable the dither if you're rendering in 16 bit, as the Lx should already be set to dither the output. Use 16 bit only if you don't intend to process the sound further.
I'd say using sinc depth 256, 32 bit float is perfect for the final render or for bouncing tracks, but the number in brackets would depend on whether you're using Adobe Audition. The 16.8 you're using appears to be Audition's own format, although I've never tested the difference between the two.
Have you checked if any channels are clipping, either at their output or internally?
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Put an end to the loudness war. Don't limit or compress your mixdown until mastering; leave the master channel alone.
Contact me for mastering.
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