Clock speed would be to communicate with MIDI? That would depend on what's communicating not any proper setting.
Bit rate and sample rate...
24/88 works really well for bouncing down to CD (16/44). I tried it after an audio class when we were told to retain the frequencies and volume accurately, you must use at least twice the sampling rate you will be mixing down to otherwise they will be calculated for you resulting in (things being repeated instead of sampled discreetly). Something like that. Hence, 96 is there because in audio for video you would bounce down to 48.