The 1:16 is about maxed out in bullet length with the 45gr. Hornet bullet, though a few 50ish have reportedly done OK if they were high steppers. It is often hard to get enough extra velocity and stay within pressure constraints to stabilize an otherwise too long for twist projectile. The 1:14 wont have any trouble stabilizing a lighter bullet.
The barrel steel issue may be moot, as most of us wont shoot enough rounds to actually shoot out the bore. Yes, it has been done, especially in the old days with quite soft 22RF barrels rechambered to CF, but I dont know of anyone lately reporting to have really done so (I havent heard everything though, maybe check online for such).