Much too much is being made about the bushing floating in the spindle.
I do not know why Chevrolet tried this design for a few years,along with other designs only the engineers of the time understood.
At the time when new spindles were available it may have made sense to just replace a worn spindle, or buy oversize bushings (which I doubt are available any more).
I can tell you not every manufacturer used this design.
I have been running a vintage Chevrolet repair shop since 1985 and have done many king pin jobs. I can't remember ever replacing a spindle because of the wear from the floating bushing.
I have always Loctited the bushings in place, with a king pin through both bushings, to keep them inline while the Loctite sets. I have yet to see a comeback from this process.
