QUOTE: "A sch 40 fitting will burst before Sch40 pipe and a Sch80 reducer will burst before Sch80 pipe."
NOT CORRECT.
Please read ASME B16.9 By rule, the proof (pressure) test (as described above) assures that, for components all made to one schedule (all schedule 40 or all schedule 80) the straight pipe MUST burst before the STANDARD B16.9 fitting bursts.
If you fabricate a fitting from rolled plate (including required fabrication welding) for use it in a piping system, you will have created a non-Standard "non-listed fitting". You then MUST comply with the PIPING CODE that is mandated by the jurisdiction in which the piping system is to be built. If the ASME B31 Code for Pressure Piping, B31.3, Process Piping is the mandated piping Code, you should look at (and comply with) paragraphs 303 (and its sub-paragraphs), 304.6.1, 304.7.2, and others (look up "severe cyclic service". When you are designing a piping system to (e.g.) B31.3 you only go outside that Code when that Code directs you to do so (e.g., paragraph 304.7.2(b), 304.7.2(c), 304.7.2(d)). The exception is course is, you can always employ MORE RIGOROUS analyses methodologies for the analysis of individual components (e.g., non-standardrd fittings) using (e.g.) 3D FEA - assuming you have the loadings from your comprehensive beam model correctly applied).
Regards, John