As was answered in the same topic in the Bryston forum, the 24-bit refers to the mastering method on the CD. The final CD pressing is in the standard 16-bit/44.1KHz Redbook format, and therefore can be played on any CD player. Sending the 16/44.1 stream to a DAC capable of higher resolution would not improve the sound, unless of course that DAC is simply better sounding than the internal one in the CD player.
Given the same care in mastering from the original recording, I would doubt that it would sound as good as a native SACD or 24/96 or 24/192 digital file, but if the JVC people actually have something viable with their unique mastering technique, it very well may be one of the finer sounding CDs you can buy.
Steve