Well, there's pretty much two confirmations for leedybdp's assessment. I need to get in touch with my insurance company and get this gorgeous kit onto my policy for replacement value. I'm sure they will probably want them professionally appraised but you guys seem to know your drums so I can expect it to come in around the same. I can let you know if you wish.
To all that replied, I thank-you for sharing your wisdom and know-how concerning my dad's, now my, kit. You guys are awesome.
I think the next steps with the kit is:
a) shine them up and try to get rid of the yellow tinge to the shells (any suggestions?)
b) replace all the crappy stands (snare, crash) with heavy duty, modern ones (if I have the funds, also find originals if available)
c) buy some good quality hi-hat cymbals (also look for period ones)
d) get these bad boys into a studio and record (I'll be playing bass of course but I would imagine this kit would sound amazing on tape ... well, you know what I mean)
If there's any more questions or comments, don't hesitate to add to this thread. I am subscribed so I will be responding.
Rhythm section powers unite. :D