It would HAVE to be reduced I'd say. I know some will say '......but you're reducing the amount of meat on the bone.....' but I say no. You've still got the same amount of meat but in two different forms. The insert and the original barrel. Both of which are a known quality steel. You can call it an insert or anything really but it just a bushing subject to an internal loading and there's plenty of examples to take on board.
But a great project for a undergrad students I'd say..........