This excerpt from Ableton's Learn Live series covers two related audio settings worth understanding before you commit to a workflow: the High Quality conversion toggle and the Test Tone Generator.
The High Q button in Clip View activates a more sophisticated playback algorithm, but it only makes an audible difference when you're transposing a clip's pitch or when the clip's sample rate doesn't match your Live set. Leaving it on by default costs CPU without a clear benefit in many situations, though you can set it as a default for new clips in Live's Audio preferences.
The Test Tone Generator, also in the Audio preferences, lets you simulate a chosen CPU load percentage under your current settings so you can hear how buffer size and sample rate changes affect performance before committing. It's a practical way to find the right balance between audio quality and system stability without having to run a full session to stress-test your setup.