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Since the bushings and the holes that they're placed in take a large amount of stress, I wouldn't trust that punch method to keep the bushings tight. Essentially, only that small, small chunk of metal distorted by the punch is keeping the bushing tight, which means it will probably bend back into being loose again pretty soon.
Anyway, in my experience, I've found that when you have to choose either lateral movement, or friction, lateral movement is the preferred option.
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