Theoretically, yes, but in a live recording situation you can't always predict the maximum transient level you'll need to handle. In addition, digital level meters on portable recorders aren't precise enough to capture the fastest peaks, they're only intended as a rough guide. The safe bet is to record in 24-bits with average levels around -18db. That provides at least 16 bits of resolution for even the quietest passages.If levels are set to avoid clipping, and no compressor/limiting is done, do you think that the limitations of (well done) 14 bits can be audible in realistic source material?