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Here is a picture of a signal where the true "analogue" peaks lie between samples...
Nice picture. Is this in reference to a particular thread or query? If so, could you post a link.
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This has implications for the designers of CD players. One hopes they are aware the effect and allow the necessary headroom. What about oversampling players? Do they actually create the necessary samples above 0dB?
I would certainly hope so. If the engineer knew what they were doing then they should be aware that there can be peaks in the analogue signal higher than digital 0dB.
Most consumer CD players seem to lowpass at 20kHz. As this effect drops off extremely quickly as you move away from the Nyquist frequency it shouldn't make a big difference to the analogue stage.