When I bought the house, most of the valves were so "cob-webbed" that I doubt if they were ever manipulated in the 30 years since the house was built. Would suddenly using the valve after so long cause problems?
Answer = Yes, a valve that is not manipulated in a long time will build up deposits of calcium and other deposits, these will build un until a full closure of the valve is not possible.
To answer if you can use compression fittings or not would depend if it is copper pipe on either side of the valve, if it is copper then YES you can use compression fittings. Usually though the incoming is Gal. and maybe the house side it copper depending on the age.
What side of the water meter is the valve set at ? around here they are usually set on the mains side of the meter and almost always threaded.
If your replaceing the valve and it's on the mains side of the meter be carefull the utility company will hold you responsible for any meter damage.
That said it's not a hard job , you will need to be able to turn off the water at the street, disconnect meter on the valve side, unscrew the old valve, liquid teflon the threads and screw on the new valve, be very carefull when reattaching the meter and remember the washers.
Good Luck
