LP's can record and reproduce frequencies up to ~50 kHz (the CD-4 records of the '70's). However, those higher frequencies were artificially generated, so the real limitation should be how high are the frequencies actually passing through microphones and mic pre-amps; as already noted, the sampling rate needs to be at least twice that highest frequency to avoid aliasing errors in the A>D conversion.
As far as bit-depth, simple dynamic range calculations will not give a useful answer. Both analog recording (tape and/or LP) and dithered PCM digital will record below the noise floor, so the real arbiter of bit-depth will be that hard (impossible?) to quantify quality "detail".
Obviously, in some ways even the CD is already better than analog, speed accuracy and stability and lower noise floor being the two obvious (and fairly non-controversial) ones.
As far as bit-depth, simple dynamic range calculations will not give a useful answer. Both analog recording (tape and/or LP) and dithered PCM digital will record below the noise floor, so the real arbiter of bit-depth will be that hard (impossible?) to quantify quality "detail".
Obviously, in some ways even the CD is already better than analog, speed accuracy and stability and lower noise floor being the two obvious (and fairly non-controversial) ones.