Cutting the barrel, near the rupture will leave you with a butt joint that will be welded between two thin barrel sections. Quick, easy, but not a very good repair. Do not take the lowest bidder on this repair. Only the best repair possible should be done. The second failure might not be so luck as the first.
Proper sleeving involves boring out the chamber area, turning a barrel down to fit into the bored out chamber section and then welding both the chamber face and the joint between the barrel and chamber mono-block. Hence you are welding much thicker metal, in two places, and have the combined strength of both layers of metal. The difference is one area is repaired in .030 wall material and the other in .080 wall material. I want the repair in the strongest area possible.
What you describe is one of the least desirable repair. You will have a repaired joint, in thin metal, right at the area of the last failure. Not my hand, but that is one gun that I would never trust.
