The barrel is 1137 mild steel, same as shotgun barrels, centerfire rifle barrels are 4140 alloy. The bigger difference is the frame on the Survivor is an SB1 which H&R doesn't offer with a 45 Colt barrel. But given the jump to the rifling, I doubt +P loads in the Colt will cause any problems. Some members have used the 45/410 barrel on SB2 frames loading longer brass to reach the lands with a bit higher pressures with no problems, do a search here in the Centerfire forum on it.
Tim