I use it (ferric chloride)to etch carbon steel, but never used it on stainless steel.
I use it in a very weak soln of 5% or less. Always at room temp.
A quick dip of a piece of clean polished steel (320grit polish) will result in a dull grey matt look to the surface. That trip into and out of the soln is that fast,,,in and out.
I use it occasssionally to etch to surface of parts before rust bluing. Many gun companys used to etch the surface of the parts before the first coating of blue. It does a couple of things.
One, it evens out the surface polish on the steel (especially if left in there a bit longer).
Secondly it prepares the surface to take the bluing soln better by lightly etching it. Makes the rust bluing process easier, but will result in a dull finish from the start. So it's not one to use if a higher gloss is the goal.
The etching was also sometimes done with very weak nitric acid.
This was a little tougher on the operator as the bbls had to be hot,,as they were quickly taken out from the boiling water tank. Then scrubbed down with the weak acid soln which was also warmed up.
The resulting etch is about the same as the ferric chloride, but will even out a rougher polish job for you. Tough on the hands and skin though!
Ferric chloride etch (cold) and in a likewise very weak soln is also used to bring out the damascus pattern in finishing those type of bbls.
A quick in and out dunking between rustings followed by a carding under running water does the trick.
The ferric chloride loosens the rust brown/rust blue on the harder steel portion of the bbl material allowing it to be carded away (white),,but leaves a portion of the color clinging to the softer iron composition of the bbl (brown or black).
Lots of cycles compared to a simple rust bluing job and the bores must be protected from any contact from the ferric chloride (or acid etch) solns used during any of these finishing processes.
I use a simple coating of shellac. It holds up remarkably well to all the boiling cycles and dunkings and is then even somewhat stubborn to remove afterwards with lacquer thinner, ect from the bores. But it works and is better than trusting bore plugs which may leak.
More than you wanted to know probably,,and I still didn't answer your question about stainless steel. Sorry.