I use the hot bath method. It runs at 135 to 140 C. So some care is needed. It works very well and I have never had any issues with it all. The downside is the time required to heat the bath, and the cleanliness of the parts. Some steels with high chrome content do not blacken very well with this process.
It is cheap to set up though and the basic formula is very simple. My current bath starts with 10 deionised water chlorine free. Chlorine free is important. 10 L of caustic soda pearl, or alternately 10 L of concentrated caustic soda solution, Mix water and pearl very slowly adding the pearl. Ready made solution does not need any extra pearl add. Then after it is close to room temp add 10 l of sodium Nitrite powder/crystals. Mix etc, use care as this is very caustic. Slowly heat to 135C or untill it just simmers. Stir often. The parts will take about 5mins for small sections (less than 25mm thick) to 15mins for 50mm sections) . Remove from the bath, let hang and drip off, then wash in hot water and I use vinegar water to neautralise the basic solution. Dry and oil. All done. This is really a more commercial set up, but does work very well. There are slight adjustments to the basic formula, like adding sodium Nitrate, and some add other stuff as well. If you have a set up in such a manner that you may drop and splash parts into the hot bath, then your set up is wrong. It needs to be arranged so that you can not make any splash of any kind , no matter the reason. You do not get a second chance with hot caustic things. But I am happy with with I have, have been since 09 when I started doing this commercially. Do not allow any non steel parts to contact the bath either.
Neil