Below is a photo of the feed 'shoe' from a 1956 Colchester lathe. The feed rod goes through the 'bush' and drives the gear, partially visable in the center. Over the years the feed rod has gradually worn the bushing surface into this oblong opening. I would like to repair this. The best solution I can think of the to machine out the hole to roughly circular and insert a true brass bushing. Is there a better solution?