I know this is an ancient thread, but I stumbled upon it via a google search for a herald case. Anyway, a bunch of the college players were from Purdue University, whose marching band at the time was directed by the late Bill Moffit (who was assisting with the direction of the heralds in some capacity). I went to Purdue the following year, and the ones who went were still talking about it for years after. I'm still in touch with a few of them. They did mention they were playing the lower parts while professionals were playing the higher ones.
Several years ago, Horntrader had one of the stamped Olympic heralds for sale for $700. At the time, a brand new one cost about $450, and I tried to talk him down, but he was of the opinion that the Olympic stamp was worth another $250. I passed on the horn, but apparently it sold, so maybe he was right. Who knows.