Wade,
Actually, it's a little more than rubbing back browning. I guess in the general sense, that's what it is, but a whole lot more work than that.
First the piece is browned to the point of pitting. The amount of pitting is determined by how aggressive you are with chemical, moisture, and temperature . The more pitting you have, the better the final product,in my opinion.
Then the work really begins,the rubbing back, is actually sanding every bit of that browning off, right down to the pitting. At that point, go back with a good cold bluing solution, and finally, steel wool off the bluing with a good preservative, (I use CLP), paying extra attention to the "wear areas".
That's pretty much how I was taught, and while a lot of work, it looks great.