I'd not advise repair, but am interested in the metallurgy of the question. As I understand stress-strain diagrams, after the metal yields, increased stress is required for further strain increases. That is, the metal is now stronger; often referred to as work hardening. I think, at least in theory, the bulged metal would be actually stronger than pre bulge. Anyone with a differing theory?

Again, I am most certainly not recommending repairing bulges near the chamber. Small bulges further down the tube and that don't extend under the ribs, different story.

DDa