Jerry this is basically the same way I've done a whole lot of barrels and I've not had problems with warping or bore issues. Yes the bore will blue, but it "shoots out" fairly quickly, or can very quickly be lapped out with a lead lap and some compound. I don't keep removing the barrel and wiping it down, though, as to my mind this does seem like an invitation to warping (heat/cold air/heat/cold air etc).
While there may not be evidence to verify this method, on the other hand there is no descriptive evidence to verify any bluing method in an American context of which I'm aware; the period (18th century, not 19th) references I have seen are within a European context and seem to yield a different kind of blue, compared to what I have seen as remnants on American barrels. Also, taking into consideration that the bluing remaining on the underside of a number of American barrels was (1) executed after filing and dovetailing in most cases and (2) seems to match perfectly with the bluing obtained via this method, I personally feel pretty comfortable with it. I can't really see another method to yield the same results, certainly not any that is so simple, effective and quick.