Different alloys seem to blue differently. I've done touch-up patching on some guns, and it works well. Others, not so well. If the metal is warmed a little and completely degreased, it seems to work better. I have used both Perma-Blue and Oxypho, and I don't see a lot of difference. I had a gunsmith friend once who really liked 44-40. I don't know if it is still available or not. I have a pump shotgun which was in really terrible condition when I bought it (for a song), stripped it and polished the metal with very fine sandpaper, and used Oxypho on the entire gun. It actually looks pretty good, and has held up for the past 10 years or so. Not like a factory blue job, but far better than it was. Go ahead and apply some cold blue. There's nothing to lose, and you may be happy with it. Very seldom is a professional re-blue worth the expense.
PS- Brownell's carries 44-40:
http://www.brownells.com/gunsmith-t...mula-44-40-reg-instant-gun-blue-prod1112.aspx