I have made two according to the directions and they work great.

I think you would want the hole in the end to be as close to the 1/2" diameter
of the bolt as possible to make sure the washer and bolt head/nut had some good shoulders to stand on.

You might also want to investigate the availability of hardened bolts in the longer length that you would need.

Without crawling under one of our 240's I can't tell you if the added length of the "tool" would work in the space available at the TAB location; but you might want to check that as well.

When it is all said and done you might just want to go with the plan... did I mention they work great??

Don't forget to scrape and pick the area where the bushing is held by the "ears" and soak it with PB Blaster or Kroil (accept no substitutes) for several days to save yourself a lot of time and vocabulary exercise when you remove the old bushings.

Randy