Dave, You began by saying your torn between a 12 and a 20 gauge.
Why not consider the best handling and patterning gauge on the planet. 16 GAUGE !!!!!

For 8k there are some real strong original DHE 16 Parkers out there. I am a doubles nut but if you like the Merkels I gotta tell you that Schwandt Arms has a stunning 16 bore Prussian Daly O/U on their web site.

With these type guns not only will you have a fantastic and versital gun but also one that will gain substantial appreciation the longer you keep it. Take care of that Parker DHE and it will double in value before your eyes.

Best of luck on your quest.

Brad