An interesting consideration that has not yet been raised in the thread is the interface between the VGA chip and the DAC (especially assuming the stuff isn't integrated). Traditionally, this is an 8-bit interface, and all data from video memory is sequentially sent over this interface (that's also what Disruptor refers to when talking about "transfer speed to the DAC"). A XRGB mode wastes 25% of the available bandwidth between the VGA chip and the DAC, if every byte is transferred individually.
Quite soon after introducing 16bpp modes, DACs were built that could perform double-data-rate transfer in these modes, i.e. transfer 8 bits on the raising edge and 8 bit on the falling edge of the clock. This essentially converts the interface from a 8-bit interface to a 16-bit interface (using only 8 connections, though). This interface works perfectly for 16 bpp modes. Other vendors produced DACs that had 16 individual data lines. On VRAM based cards, high-color modes often bypassed the VGA chips alltogether and connected the VRAM pixel data output directly to the DAC pixel data input. In case of 32 bit wide video memory, the low word and high word were interleaved and sent to the DAC one after the other. Those kind of DACs often supported a mode in which they could take 2 8-bit pixels at the same time, allowing quite high resolutions and or refresh rates at 256 colors.
Now, introduce 24 bit color into that picture: No RAMDAC I know of is able to re-synchronize 24bpp data that is passed using a 16 bit pixel bus. There are DACs that allow to take 32bpp using two cycles of 16 bits, but will require 3 cycles of 8 bits to process 24bpp modes. So for these DACs, using 24bpp provides less throughput than 32bpp! Also, there are DACs with a 32-bit interface that allow taking 2 16bpp pixels at once or one 24bpp pixel (ignoring 8 of the 32 input pins, essentially reading the data as XRGB). And now, for most fun, introduce the MiroCrystal 24S. That card is targeted specifically for 24 bit color modes, and uses a VRAM design where data is passed from VRAM directly to the DAC at a width of 32 bits. 24bpp modes are read by the RAMDAC at XRGB. The funny thing about this card is: While the first megabyte of video memory is correctly equipped with 4 chips of 8 bits each, the second, third and fourth "megabyte" of videomemory does not consist of 256kilowords of 32 bits (which would be a megabyte indeed), but miro left out the memory chips that would be mapped to the X bits of the DAC. They only have 256 kilowords of 24 bits, so only a total amount of 768KB is available in the 1MB spaces of the 2nd, 3rd or 4th megabyte. This means the video memory looks like 32bpp to the CPU, but you only pay for 24bpp worth of video memory. It also means that for all modes except the 24bpp modes, only the first megabyte of video RAM is usable. Actually, the design is even more convoluted, so the direct-VRAM-to-DAC mode is not usuable for anything except 24bpp modes. Thus, the card behaves like a simple 1MB card with an 8-bit VGA-to-DAC interface as well like a 4MB 32bpp card in True Color modes with a high-performance memory interface, while there is only 3.25MB soldered to the card.