I would certainly give it a try Guy, as you have nothing to lose. Get it as hot as you can in the blowtorch flame, nearly white hot if you can, and quickly tap it on your vise while hot. It might take several goes. Let it cool naturally so it will be soft and easy to file to shape. Then to harden it, heat up to bright red again and quickly plunge into water. It will now be as hard and brittle as glass. To temper it so that it is hard and tough, heat it up to 200-300 degrees C (you can use your oven for this; or you can polish the metal white and warm it slowly until it turns blue. Let it cool naturally, and there you are.
Funnily enough, I have just made a replacement cocking rod for a Eureka pistol using this technique to form the expanded end that provides the air seal in the cylinder. In this instance though I hammered the silver steel rod into a specially made die to get the right profile: