There are many cold rolled steels, even 12L14 is cold rolled which is the type of steel that most muzzle loading barrel are made from. I talked with several barrel makers of modern barrel and they are coming down on the hardness of the 4140 from Rockwell C32 to around C28. The beleife is that it is better to have the metal expand rather than burst. This chart shows a bit of the cold rolled steel on the market.
IMHO it is better to use a mild steel that will expand with an overload rather than burst like cast iron. This is why most of the cast barrels today have a steel liner. Using a hard steel that can be brittle is just as bad as using cast iron. Mild steel may split if loaded to heavy but it is less likely to throw shrapnel like cast iron or hardened steel. The old frag grenades where made from cast iron, not steel.