GMs really have their own methods of dealing with this skill, so while the LORE summary is a good default, I have met few that really require it as the standard.
If you are taking time over a few months, then you aren't rolling a single GI. That is, clearly you are going to several different places, possibly even for different topics, so you are more than likely rolling more than one skill check. Again, this is GM determined, and one thing you will find true is that a well placed diplomacy check is worth a thousand ranks in GI, because most GMs have NPCs and locations already in mind to find information in. It is as simple as, you talk to those people, go to those places, or you don't. A gather information which is "I go wherever there is information and find it" seems more difficult for most to really accept as a viable means.
I once spent over ten thousand gold for a bar rumor, and other times spend nothing at all just by virtue of my character being social and persuasive. So... it varies.
The RP value is also entirely GM based as well. I have never had anything interesting come out of having ranks, nor has Storold or the other high INT wizards with max ranks in the skill, that I know of. Just a bone tossed now and then. I admit that I've let the skill slide in the attempt to catch up others primarily because of the lack of anything it's ever been good for, let alone having an informal spy network. The people working to gather information on my character's behalf did so because it was done on quests or through establishing contact with some trade or persuasion, not through any automatic GI ranks.
That said, I DO recommend the skill for anyone that is attempting to be a spy or any information based character - there are a lot of different angles to hit it from, but it does get kind of stale bothering to put points in those skills only to see people that have no ranks at all making the rounds and gathering it without needing to make a skill check. It's up there with stunningly beautiful women with 8 charisma for me, heh.
Anyway, rant aside I do think it has value, probably just not of the kind you are looking for. It's not useless though, especially in the lower levels of it when having 10 ranks is really cool because you can get rumors and directions from people by haunting taverns... just less so in the upper levels because you never get much better than that despite extra ranks.
As I said, find a GM that accepts it as valid currency and you're golden - combine it with your social skill of choice to maximize results. I wouldn't expect much out of finding out anything about plots before they happen, but then I gave up on that some time ago already, so I recommend just putting in the time and effort and seeing where it leads you. Often it is the player interaction that is the main reward, that ends up better than the occasional quest use.
It's a mixed review I know, but hopefully a perspective of someone who has been playing an information based character for almost five years now... times they are a'changin' so you'll find some happy to work with you just for the sake of you putting the effort in.
PS One recommendation of the skill itself,
don't roll blind skill checks. That is, "*rolls GI* I look for whatever I can find" is much less likely to grant results than "I put these people in this area keeping an ear out for these topics, and I go here looking for this topic with these methods (ie bar hopping, guard bribing, etc). This goes for most skills in general - blind skill checks get few results. (Except lore anyway, which as long as you have a question, the answer is supposed to already be in your knowledge base, heh!) A lot of people make this mistake regularly on quests and wonder why they don't find anything. "*gathers information*" "*prays*" "*persuades*" etc, none of these work very well until you put some oomph into it
