Automated speech recognition (ASR) models have gained prominence for applications such as captioning, speech translation, and live transcription. This paper studies Whisper and two model variants: one optimized for live speech streaming and another for offline transcription. Notably, these models have been found to generate hallucinated content, reducing transcription reliability. Furthermore, larger model variants exhibit increased latency and pose challenges for deployment on resource-constrained devices. This study analyzes the similarities and differences between three Whisper models, qualitatively examining their distinct capabilities. Next, this study quantifies the impact of model quantization on latency and evaluates its viability for edge deployment. Using the open source LibriSpeech dataset, this paper evaluates the word error rate (WER) along with latency analysis of whispercpp using 3 quantization methods (INT4, INT5, INT8). Results show that quantization reduces latency by 19\% and model size by 45\%, while preserving transcription accuracy. These findings provide insights into the optimal use cases of different Whisper models and edge device deployment possibilities. All code, datasets, and implementation details are available in a public GitHub repository: https://github.com/allisonandreyev/WhisperQuantization.git