The sheet steel is the next best thing to iron plate for the rifle you are building. Most folks wouldn't be able to tell the difference between high quality iron and today's mild steel. The wax cast steel parts available today are produced this way because it is much cheaper to do this than machine them out of solid stock, or drop forge them as would have been done in the 19th century. Unless you have an induction furnace handy (plus a lot of other specialized equipment), or some other trick up your sleeve you won't have much luck doing steel casting. The temperature is substantially higher than brass, bronze, or even cast iron. Cast iron is totally inappropriate for gun parts such as the ones you are working on due to the high carbon content that makes it very brittle. In the 19th century cast iron was further refined before it would have been used as gun parts. The original makers didn't have the ability to cast steel either, that technology came along much later.