Drag and drop is imprecise. I would not recommend using it with MC.
Also, MC should play any sample rate that's standard, which 88.2 is. I would expect the original files to play, without conversion. I don't have any, since there are no sources of that sample rate that I'm aware of. I think the files you find with 88.2 are up-samples of 44.1 CD material, which makes them not very appealing to me personally.
Brian.