Phil,
Welcome to the forum. I have two GH's on #1 frames and shoot them often. They are lite and handy. Yes, RST shells in 2 1/2" would be a great choice. I like 7/8 or 1 oz loads for the #1 frame because they are easy on the old Parker and me. Yor gun looks like it has received good care and use over the generations. I would do nothing to this Parker as the wear it shows comes from the hands of your father and grandfather. As to value, I do not have my ear tomthe ground as many others do, but would guess in the $1,500 range.
Good shooting,
Harry
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