I would need 16 bit ADC and DAC at a minimum and would preferably use a 24 bit set,
Interesting. While you see 16/24 bit in digital audio, keep in mind that bit depth is dynamic range. If you have access to recording software toss on a "bit crusher" to a guitar DI or even a recorded guitar track. I'd imagine there are 2 people on Earth who could hear the quality "loss" at 12 bits. Those extra bits are chewed up almost entirely by the outrageous noise floor of just about every guitar setup on the planet. The kind of distortion we hear down @ 3-4bits is a bit on the fizzy side but you'll never hear that @ 8 bit.
For that matter, there isn't much at all happening at 11k on a guitar DI. 22Khz sample rate would probably result in zero tone change.
It sounds like you've got an incredible project here and I'd hate for it to be compromised because your specs are a bit "overbuilt" (as in inaudible). These are the kinds of things us recording engineers fight over all the time and the differences are sooo subtle. Now, when it comes the hardware to push this (as you are doing) the differences are NOT subtle.
Good luck!
Brandon