I just finished doing this (along with removing the counterweight). The bushing was worn slightly with a small but visible groove on the worn sides. I forget my caliper measurements but I remember it wasn't as worn as WuNgUn's.
There's just two things I'd like to mention.
This mod didn't remove the slop from my shifter. My shifter had less than an inch of play prior to the mod, and it remained the same afterwards. Turns out, the play in mine is just from the cable connection along with other parts of the linkage.
Also, I didn't need to totally remove the bracket that the bushing is on, I just loosened the bolts enough so the bushing could be slid out of the slot and removed. With the limited work space, this saved a lot of time not having to remove the bolts completely.
2004 Infra-Red SVT 3-Door
#23 of 1978