There’s no doubt that the traditional method works, and works well. It has stood the test of time.
It does have a steeper learning curve, but as you say if you do it often enough and gain experience, the method is definitely sound.
I feel that the cost of a lab hotplate is money well spent because of the other uses it also has.
The following is off topic in terms of bluing but :
If you add a Pyrex measuring cup and thermometer you can anneal metals with reliable results.
As mentioned above it is handy for working on pallet stone adjustments, either with an escapement meter or a home made brass block with holes to accommodate fork pivots and guard pins, plus a means of holding the fork still. If using the brass block, precision adjustments to the pallet jewels are accomplished by the use of a reticule eyepiece in a microscope.
This setup is easily the equal of a Bergeon escapement meter + bergeon heater for the meter, but for the same money you can buy a decent stereomicroscope, a reticule eyepiece and the hotplate, which are capable of doing much more than the escapement meter+heater are.
Best Regards,
Mark