Horse’s who are properly conditioned don’t really notice the difference. My smallest mare, a 15 hand Saddlebred, went thru a 7 mile parade in full parade attire in Savannah, GA, and was fit and ready to go again the next day.
Right now, the bottom has fallen out of the parade saddle industry, which was fairly lucrative up until a few years ago. Most sets are over 40 years old and pricing is dependent on condition, wear and whether all parts and pieces really match the saddle. They still have some value as a collectible, but what sounds expensive to most horse owners, is quite inexpensive right now to the real parade saddle collector.
Here’s a link to photos from our most recent parade class here in the state (Go to Proofs, Southeastern Charity, Friday evening - Opportunity Parade Class)https://dougshiflet.com/default.asp. We provided all tack and attire for the three riders - you can see how the equipment is really disbursed over the entire body - the Friesian had worn the equipment only once before. The other two horses had never worn any before this class.