Audio Sampling Rate

I note from the Reference that "analogRead()" can only deliver ~10ksps. I have a requirement to sample at 200ksps, which I understand is well within the silicon's capability. Has anybody explored this area?

which I understand is well within the silicon's capability.

You sure?
Yes it can go faster but the resolution suffers.

Has anybody explored this area?

Yes simply googel:-
arduino fast analog read

or start here:-
http://forum.arduino.cc/index.php/topic,6549.0.html

200kHz is the reccomended fastest ADC clock speed, not the ADC sample rate. the ADC needs at least 13 clocks to take a sample, so its more like 15ksps. but, you can go faster with slight bit depth/resolution tradeoffs. these are all documented here:

i find the 38ksps rate to be the sweet spot for best audio performance.