Until Chris chimes in...
This is actually a Model #5 (The Browning) in the Pete Margo Bullet Series, as opposed to a PM model. I'm pretty sure the blanks were Adams and the cues were finished in the Palmer shop.
The Bullet Series, while not a super collectible old Palmer line, had some pretty cool cues. The upper end models had some interesting inlays. The veneers aren't Titlist or Greenleaf (wrong colors), but are "the classic" black, orange, green, natural.
I would think the cue should bring three hundred in today's market. One thing this cue has that's a good feature, is that the logo still looks pretty good. Most of the Bullet Series I've seen over the years have lost it.
You might find the guy that's looking for just this cue to finish out his collection that would put a little premium on the cue. If I remember right, a couple of well known Palmer collectors were looking for a Model 11 from the third catalog. It was a very plain cue that you just didn't see a lot of on the market. I know one of the collectors told me that he had found one on Ebay and felt that he should be able to pick it up for around $400 at the time. He said that he didn't want to take the chance of losing it, so he put his bid in at $700 to take care of last minute snipers. When he got home that night, someone had outbid him at the $700! Ya just never know...
Good luck with your sale!
Steve