Non magnetic sintered bronze oil-impregnated (oilite) pilot bushings were/are the "norm" for older GM vehicles:

Types of Pilot Bushings (from crankshaft.coalition.com)

""Good" pilot bushings that GM and the good NAPA bushing is an oilite made of sintered bronze. If a magnet is attracted to it, this indicated an iron content- which isn't recommended in many cases.

A "good" pilot bushing is an oilite. Oil is put into the sintered bronze material under a vacuum- an impossibility w/non sintered material- being as how a solid bronze part has no real porosity of any kind.
An oilite bushing contains all the oil that the material can "soak up" already. The amount of pressure that's used when it is sintered will determine how much porosity- and how much oil it can absorb. Different applications will have different properties.

Adding additional lube other than a slight amount as an installation aid isn't recommended and will serve only to attract/collect debris coming from the clutch and clutch plate, dirt, etc. An oil-bearing material like oilite has all the lube it needs already incorporated into the material itself, anything additional is not needed."