Messing with the chokes will make it worthless.
sounds like the people who, when i was into colt SAA's told me shooting factory engraved guns would destroy their value. found out when i got rid of them later that their value was nowhere near destroyed.
several points:
1) i've never seen a worthless model 12.
2) don't mess with the original condition 16
3) the 20 would be a perfect skeet gun. opening the choke on it, in its refinished state, would not affect the value 5 cents in either direction. it most assuredly won't make the gun worthless.
4) going from a model 12 to an 870 is not moving in a smart direction
5) if you like the 20, do what you need to do to make it what you want it to be and shoot it till you wear it out.