Right, the result is pretty much the same as with Tennifer, but produced by a slightly different method. As I understand it, tennifer requires use of some chemicals for production that are problematic for use in the US.
Greg "Sully" Sullivan of SLR-15 has some melonite offerings, In taking an AR15 armorer's course from him, he passed around a barrel treated with melonite. While nobody tried beating it with a hammer or anything like that, several of us did try to scratch it using various steel tools and had no luck.
One aspect that interested me beyond the external protection of the outside of the barrel was the protection of the interior of the barrel - the rifling. Sully claims (and I don't have reason to not believe him, but can't verify) that the treatment will extend the rifling life of the barrel.
Melonite looks to be a very good treatment if you are willing to spend the money. The corrosion protection looks very good, especially if on a gun you use is harsher environments or are less apt to as diligently maintain.
"If you look through your scope and see your shoe, aim higher."
-- said to me by my 11 year old daughter before going out for hogs 8/13/2011