Lathe a heavy barrel to lighten?

My 6 jaw has 4 adjusting screws that throw the chuck how you need it.
They are in the round dia.. behind the jaws. I would be careful to not get the jaws out of time!
Different kinds of steel relieve at different temperatures? What it's made of how much it weighs all figure in?
 
Honestly, a barrel with 5000 rds through it isn't worth re-profiling, let alone stress relieving.
Heck, if it only had 5000 rounds through it, I wouldn't be ready to hang it up! For the first 3K-4K, she was "sub moa all day" with good hand loads. Somewhere around 5K, she slipped a little, and now (7-8K?) she's about 1.5 MOA with the good stuff and 2.5 MOA with the crap stuff.

Thing is, all mine and my friends' ARs are about 2.5 MOA with the crap
stuff anyway. Since I already have a newer/nicer sub MOA rifle, I wanted to build a lightweight, short range, "run-n-gunner" for our informal shooting matches. Figured I could play around with the lathe and save 150 bucks potentially. 2.5 MOA is plenty good for steel cased ammo at "red dot" distances.
 
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