Reencoding sample rate vs. DSP effect resampling

[AudibleImagery]

Hello, I'm wondering if there is a qualitative difference between these two methods of downsampling (i.e 24/192 to 24/96).

Here are some screenshots to illustrate the difference I'm referring to:

[Spoon]

Re: Reencoding sample rate vs. DSP effect resampling

Replaygain would not downsample. However the DSP effect 'Resample' is the highest quality method of downsampling.