If you are willing to go through the trouble of doing a good oven cure job, you might as well do a rust blue. The premixed solution sold today is unbelievably consistent (beats the hell out of dissolving nails in acid,) the prep work is a little more tedious, lots of hand work to do a quality job, but nothing looks more appropriate on a gun like a Handi.
Spray paint will certainly work, and can look good if you put the effort into it. I use clear kiwi on all surfaces if I'm going out in the wet, very few things work as good as a first line of protection. Never thought of using black kiwi, as long as it dries good and hard before you handle it, it probably would work great.
Ron