When I did my entire rear suspension, I made the tool for the lower trailing arm bushings which worked fine. For the other ones, I first cut out the old rubber (it wasn't difficult those things were so bad). Then I took the ol' hacksaw to the casing of the old bushing and cut one vertical cut in it. After going just through the caseing (you don't want to go through the permanent housings), I knocked them out with a hammer and chisels. Took a decent while to do, but it was free, didn't require a $100 press or a machine shop, and worked just as well as any other method. To put in the new ones I used a big 6 inch C clamp. I would've used a bench vise, but I didn't have one at the time. The C clamp was a PITA, but it worked eventually. So it is possible to do bushings without spending money on removal and such. good luck,
Nate Gundy
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'86 240DL sedan, 260K miles, M46, K cam, 25/21mm sways, 260 front and wagon rear springs; http://valvespringcompressor.weblogs.us/