Hi Ghost,
Like you said at the end of your post, the ability to record an image with such pixel depth will depend entirely upon the camera being used. Assuming you have a camera of this bit depth, it is certainly possible to use LabVIEW and IMAQ 1394 to interact with that image. The write file functions you mentioned are bound by the format of the file type you are trying to save. For example, an avi file supports only 8 bit images. If you wanted to save an image to file with greater bit depth, you can use IMAQ Vision to save one of these images as a .png or .tif file.
Let me know if you have any more questions!
Regards,
Robert