Again, no direct experience on this one. Steam is simply a buffer for heat when it comes to bending wood. Same as why food doesn't exceed the boiling point of water when cooking water-heavy food, the same applies to bending wood. It controls direct application of heat by dissipating it as steam escapes. Boiling wood is possible also, but I've not tried anything as large or thick as this piece, only binding. Evening heating to the core of the workpiece must be done fully so as not to create some sort of heat gradient which would interfere with - or prevent - a stable bend.
Generally I would think that you'd need to be bending a larger piece of timber in order to achieve the torque to take it into the shape needed. Something like this would need to be maybe half a metre in length? That seems right on the borderline of what I would imagine is easy to handle. A good strong pair of clamping cauls in the shape of the destination bend seems a given.
I say "do it", but with the full knowledge that it may fail, and have a backup plan. It's a great opportunity to absorb the process hands-on (wearing heatproof gloves, anyway).