FWIW, I have a 28ga O/U with a bulge in the lower bbl forward of the forearm that I have been shooting just that way for over 40 years. I have not had it repaired because the bulge is uniform, meaning it is the same all the way around the innner periphery, no point in having it pounded out cosmetically when it would still have a 'bump' inside on the top. I don't wish to have the ribs removed & all that, to fix it correctly, the side ribs remain tight and the bbls are quite sound & 'ring' nicely still. Pattern were not affected in the least; it is IM/F. 28's are generally loaded to higher pressure than the larger gauges. The gun has seen thousands of rounds through it since the bulge.
I can't say as I have ever personally seen a bulge that only affected the visible portion of the bbl., but it is likely safe enough as is or repaired by a competent gunsmith & either way I doubt there is any reason to look back.
edit: I also had it examined at the time by a smith that I considered to be more than competent & those were the choices he presented. I elected to leave it alone.
Last edited by tw; 10/09/07 09:01 PM.