I think that it also has to be considered the quality of the software that does the upsampling. At this moment one of the best SRC software, if probably not the best, is Saracon from Weiss, but it's very expensive.
http://www.weiss.ch/p2d/p2d.html
http://recforums.prosoundweb.com/index.php/m/104390/0/?srch=weiss#msg_104390
http://src.infinitewave.ca/ (a comparison between SRC software)
http://www.weiss.ch/p2d/p2d.html
http://recforums.prosoundweb.com/index.php/m/104390/0/?srch=weiss#msg_104390
http://src.infinitewave.ca/ (a comparison between SRC software)