What you've got w/saltpeter is a niter bath blue. Some people mix it w/lye (1 scoop KNO3 to 2 lye). You can get it from Brownells' already mixed and it doesn't take water. It also will give things a softer temper due to the 575 degrees or so it takes to get a nice blue, so screws are one thing, but some parts you won't want to blue w/niter. (You don't ever use water w/this), but you can pull the parts as they change colors begenning with straw, then gold, brown ,purple, blue and finally grey. Then if you don't like it, it will need to be sanded off and begun again.
Another black "blue" is one that takes caustic soda (50 parts by weight), sodium nitrate(20 parts by weight), and sodium nitrite(8 parts by weight) and water in a concentration that will boil at 185F. You need to rince it off w/cold water and then rince it in hot water to get off the chemicals. If you think it needs to be darker, rince it w/cold before putting it back in. That's an oxide blue.
Both will melt soft solder.