If you do the bearing fix, the inner portion of the bearing, and the arm brace MUST make a solid stack without the inner sleeve contacting the arm brace (the inner sleeve should have only the presure of the 2 bearings pusing against it NONE from the arm brace.) You need to turn the sleeve and mill the arm to fairly tight tolerances so that the inner and outer bearing surfaces are seated firmly at the same time. This allows you to torque the bolt very tight (as in 200 ft/lbs) and the arm will still move freely.

I have done a few of these and redone one which was done fairly well but without attention to a couple crutial measurements. If done properly the spherical bearing fix should last for a long long time. If done improperly it will be no better than a faulty bronze bushing.