PNR123,
I guess this thought would depend on how much material needed to be removed from the ID of the bushing. They make Loctite retaining compounds you could 'glue' the bushing into the bore with...but..if you created heat when you honed the ID, it might come out.
If I were to do this myself, in the garage with limited tools, I would epoxy the bushing into the bore, then use a brake hone to fit the ID to the OD of the shaft.
This is real low tech, so you might end up with a sloppy feeling set of pedals. If you want 'nice and tight', a local machine shop could help you out.
Stuart
