But it really gets more complicated than that.
As Jim Keenan said, machining will be necessary. The forged pieces will probably need a lot more machinging - which will only add stresses to the metal. Some large parts are machined from a bar, which is very extensive machining.
Further, there is the quality of heat treatment. Older Hi Powers were forged, machined, and heat treated to a hardness of about RC20. The newer frames, since the .40 S&W are cast, machined, and heat treated to RC 40. I think I'd rather take my chances with the new frame.
And Ruger revolver frames, which are cast, are proverbially strong.
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