Justin,
In chambering a barrel for an XP there's just no way around using a steady rest. I'll use one when forced but that's the only time and I stay on top of it just as you did.

Grizzly makes a 12x36 belt drive lathe with a 1 7/16 spindle bore that I would love to own. It's about $2100 and I'd bet it will do a good job. You really don't need a SpaceShuttle Special in a lathe to do quality work.