You would be fine shooting 2 3/4” low pressure shells in your Grade-0 Parker. Your chambers, if originally cut to 2 5/8” were cut for 2 3/4” shells. The practice of cutting chambers 1/8” shorter than the (fired) shell length was to make for a better gas seal in the cone.
You are correct in your other assumptions though we would refer your Twist barrels as a type of composite rather than a type of Damascus… but many people use the identification term you used so that’s certainly okay.
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"I'm a Setter man.
Not because I think they're better than the other breeds,
but because I'm a romantic - stuck on tradition - and to me, a Setter just "belongs" in the grouse picture."
George King, "That's Ruff", 2010 - a timeless classic.
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