Back when steel shot was first mandated, extensive testing on tight choked shotguns would sometimes show a bulge near the choke on full choked guns. Many experts said that as long as your choke was not full there was no problem shooting steel. I have shot many steel shot shells out of an older 12 gauge 1100 with skeet choke. I would just make sure your choke is skeet, and measure it. Some older shotguns actually are tighter choked than the designation on the barrel. Sometimes it is because when produced during the paper shell era with the wads then available a tighter choke produced the desired results.
My next piece of advice may be troublesome to a few, but you could also have the barrel sent out for choke tubes. If you have no intention of selling this shotgun, and just want to shoot it that would solve everything. In my opinion, if you like shooting this shotgun and have to use steel, then that is an option. I have seen a few model 12 Winchesters so modified and they had zero problems. If your a collector then this is not for you.