Their was 4bit, 8bit, 16bit, 24bit, 32bit.
I'm not sure where 18bit come from?
Yes, their is a point going to 64bit..... (Maybe at professional level first)
Some LCD's use 6bit per color panels, they're cheaper and good enough for most people anyway, most won't notice the difference, TN-panels (used at least while back on most "gaming tft's") are all 6bit per color I think