One possible explanation I've heard for swamping is it was easier to make a barrel with a swamp in it than one that is perfectly straight. I'm not sure so maybe someone can correct me on this but it makes sense: people nowadays getting worked up and attributing all this meaning to something when in reality it was just at some point an easier thing to do and it worked so it got passed down.
Both straight and swamped barrels were used back then. Out of the ones that were swamped, they ran the full range from almost completely unnoticeable to radically more swamped than anything on the market today.
While they tend to have better balance and weight, the only way to be certain is to handle a barrel before you purchase it, if it's a boat anchor it's a boat anchor and no amount of swamping will change the fact on a finished rifle. On the other hand, I have picked up some straight barreled rifles that were an absolute dream.
A straight barrel has better harmonics and is more accurate than a swamped barrel. The difference is not enough to lose sleep over or keep your freezer empty but it's there. It's one of the reasons why match rifles use some 20 pound straight barreled monstrosity.