You aren't going to get small files with AIFF since it's uncompressed.
DSD is completely different from PCM. It's a 1-bit audio format so the files are smaller than you might expect, and conversion from DSD to PCM is unlikely to produce smaller files.
I'd also suggest something like 24/88.2 or 24/44.1. I wouldn't drop the bit-depth below 24-bit.
You should use a format like FLAC or ALAC though, on average AIFF/WAV files will be twice the size.
Thanks for your response. I'm just not understanding one thing these files that are set for 16-bit conversion as only half as big as the final 16-bit AIFF converted file. However, if I take that new 16-bit file, which is now, say 750 MB (the DSD is somewhere around 345 MB) and I create a new AIFF file with the very same settings (16/44.1) in iTunes, the resultant file is somewhere around 88MB. Why is it that the 750 MB converted 16/44.1 AIFF, when re-created in iTunes ends up being only 88 MB. Another DSD example converted by JRiver Media Center to be 16/44.1 was 639.9 MB but when placed into iTunes and then re-created (as 16/44.1 uncompressed) ended up being only 53.8 MB. Both are supposedly uncompressed files, but one is way bigger than the other, and both are AIFF 16/44.1, and I'm just very interested in what's going on. What is JRiver Media Center doing or not doing to create a 639.9 MB file, while the iTunes file is only 84 MB?
I had thought that maybe I had altered the settings in JRiver Media Center 20 but not really put them into effect by leaving out a step of the Options setting process. But you are saying no, I've probably done it correctly. I'm just puzzled why one is more than six times bigger than the other when they both seem to be set for 16/44.1, and this is why , I kept thinking I hadn't actually turned on these the new settings within JRiver Media Center before clicking on CONVERT.