Inter-sample peaks? Do they exist, or are you worrying about a myth?

Inter-sample peaks? Do they exist, or are you worrying about a myth?
Your audio peaks at 0 dBFS, or full scale, yet there might be even higher peak levels lurking between your samples. Clipping and distortion is the sure and certain result, yes?
Source: www.record-producer.com

Record, replay, overdub, mix - the four basic operations of multitrack recording
Imagine you have your knees under a mighty SSL mixing console with thousands of knobs and buttons. Which are the THREE most important controls?
Source: www.record-producer.com