the show often must go on, even with less than favorable conditions.
i don't wish to deter you from using what is available...
to my understanding, oilite bushings are sintered bronze bushings.
sintered bronze is bronze dust, manufactured for the process, to be compressed in dies, by punches, to a predetermined squish
they then fire the bushings, to get the bronze particles to bond together
after the bonding process, there are voids in the bronze that have heavy oil vacuum impregnated into them
they are supposed to be very close to nominal dimensions to attempt to avoid the need for machining the inner bearing surface
when you machine oilite, often times the bearing surface gets corrupted by metal getting moved around
the end result is smearing in some cases, which closes off some of the intended voids
these voids sometimes need shaft wear to open up the oil pocket the was partially lost by the machining action
the effect may or may not be noticeable or necessarily detrimental to the overall efficiency in the short term
if the shaft and bushing is kept lubricated, the assembly will survive for a while