Sorry to hear about your dad, we probably rode some of the same roads. Yes, that frame is made in the USA by Waterford and the saddle looks like a Brooks. The freewheel (gear on the rear wheel with the red thingy) looks like it's a White Industries brand, which costs close to $100 and is the best. It's a very nice higher end bike. If I was still home in FTW I would buy it. It needs a lot of cleaning and polishing, probably new tires ect. but maybe you could try putting it on Craigslist for $500 and see who bites?
