This may or not truly apply since I imagine the term "hard chrome" is used as much as an attention getter as a technical term, but this does clarify the difference between the two:
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Decorative Chrome Plating can be likened to a "clear coat" on a paint job. It is a very thin layer of a bluish hue metal which is applied over a nickel plate. The nickel plate being the "paint job". Chromium has very poor corrosion resistance as, if applied on its own, it is very porous. It has a cracked porous appearance when examined under a microscope. Nickel, on the other hand, is very corrosion resistant, but it tends to slowly lose its shine unless polished occasionally. By applying chrome over nickel we obtain the best of both worlds, high corrosion resistance and longevity of shine. To distinguish nickel from chrome you should look for the yellowish/gold hue of nickel and the bluish tint of chrome.
Decorative chromium is applied in an extremely thin layer over nickel approximately 1/100th the thickness of a hair, or 0.000001".
Hard Chrome plating is applied to certain surfaces requiring a very tough wear resistant coating, such as hydraulic cylinders on earth moving equipment, where dust and debris can scratch untreated steel rams, causing the seals to leak.
Worn shafts of all sizes can be rebuilt successfully using this technique. It is possible to build up from 0.09" to 1/8" by hard chroming then regrinding to the correct diameter. Because the chrome is so hard, it cannot be turned to size but must be finished on a lathe equipped with a tool post grinder or on a centerless grinding machine.
When used as a bearing surface, chrome must be micro finished and will then provide a coefficient of friction lower than any other metal when used against steel, iron, brass, bronze, babbit, or aluminum alloys. Do not use chrome against chrome. Because Chrome is much harder than case hardened steel, you now have the perfect set-up for long wearing work surfaces.
Most metals can be hard chromed, e.g.: steel, stainless, bronze, brass."
This is from a manual I have on plating (before I got into shooting, I was a car nut and looked into rechroming my own parts, never got very far...). Based on this, I would guess that, for firearm applications, there are only variations on the decorative chrome plate, some just "harder" than others. I would have to second SG12 and say that I'm sure modern chrome plating on guns is probably better than that used in the past, but it's all still very similar to that used on auto trim. The difference would most likely be the conditions under which the plate was applied and simply how much care is taken in the process, as well as the base metal being plated (most of the auto trim that really didn't hold up was made of potmetal). I think a good chrome plate would hold up for a very long time if it was applied with great care and cared for properly. But, it's obvious that the automakers realized they didn't have time to do chrome properly anymore (how much chrome do you see on a new car?). Guns, on the other hand, can be given more time and care than your average stamped out car bumper. They are a small piece that is typically handled by a PERSON, as opposed to a machine when being produced. They are also a more convenient size to be "baked" to avoid problems with hydrogen embrittlement caused by chromic acid. Plus they aren't typically exposed to the elements the way that auto trim is.
The big question would probably be just what type of base metal the gun in question is made of. We know that potmetal doesn't hold up, but good steel/iron will last for many years under a well-done and well-cared-for chrome plate.
Basically, I've just seconded SG12's post as far as the need for initial care in the application of the plate and the importance of a good quality base metal, but I hope I have shed more light on things
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