If you are getting wildly unacceptable groups at sd ranges then the new bushing MIGHT be helpfull, otherwise it's an unnecessary frill.

I've never encountered a 1911 that won't keep it's shots in 'center of man' at 7-10 yards: this includes WWII era, loose as a goose, pistols.

If you think you'll be shooting at 25-50 yards, then the bushing MAY help if your pistol won't perform adequately at those longer ranges.

My gunsmith custom works all my Colt 1911's which includes turning the barrel in a lathe and installing a custom bushing, but I use my 1911's for everything including shots to 50+ yards hunting. He also manages to keep the pistols 100% reliable.

I don't imagine that just installing a new bushing would achieve what I get from much more sophisticated work.