I assert, that in a blind test, nobody would be able to distinguish a signal that went through the Octatrack from a signal that did not.
(using proper gain staging, since driving a converter too hot or digitally clipping a signal will -of course- be audible)
In other words: If you do it right, you won’t hear any “quality loss”.
By the way: A great song will still sound great, even after capturing it with a 8 bit sampler at 11khz … but that’s not what this discussion here is about. 
Best regards,
bolandross