[slodave]

What are you going to reside your house with? New redwood? That would be a mistake as it's usually a mixture of heartwood and sapwood - especially at a HD or similar. I'd spend the money on having the old boards refurbished. They will still outlast any new wood siding.

As far as value, it's probably old enough to be considered old growth Redwood and now protected from being cut down. Old growth does hold a higher value to woodworkers. Redwood is sustainable and is grown on private commercial forests. Problem with the new stuff is that it is grown in environments that are suitable, but also allow the trees to grow much faster. Great for the production side of things, but the wood is far less superior as the grain structure will a lot looser than the old growth.

EDIT: Saw your last post regarding the new siding.