My understanding (which is probably wrong, LOL) is that if you have sessions that have been sitting idle for 24 minutes (1440 seconds), there is a one percent likelihood they will be "garbaged" on any script compilation (i.e. subsequent page loads, by anyone).
I wouldn't think this to be an issue unless you're on some very very large site, say cnn.com, etc. that people tend to open and leave open, or some site that contains lengthy media (movies viewed in browser, games, etc.) or long downloads.
Probably you should bump the "max lifetime" a bit if you want to. Remember to restart the server afterwards.