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Speaking from experience I once digitally resurrected a really old and battered picture for a work colleague I got on well with. My friend wanted to enlarge the only (small) picture of her brother who had passed away as a baby and give it as a gift to her elderly mother who still missed him. I took 2 days painstakingly restoring the picture as well as I could and even created a colour version using educated guesses on the colour of clothing.
Having had the two versions printed and framed I gave them to my friend and she broke down in tears and couldn't believe it was possible to do what had been done. I never got to see her mothers reaction but I know from my friends reaction that the pictures would be cherished and worth every bit of effort that I put into them. I'm not an emotional man but I nearly came to tears just recalling the reaction.
So if you want something a bit special then I'd go for a full family portrait/picture and even include the members of the family that have sadly passed away.
The Artshop downstairs will do great job on the frame and the image only needs a bit of photoshopping to remove dust and 'warm-up the cheeks'.
Thanks for all the suggestions - If you knew them bungee wouldn't be too far from the mark ;)