1. Yes, press in new bushings. Reamer will fit through the uncut bushing and act as a guide for the bushing you are cutting.
2. I use a small 6" adjustable wrench. Never try to "power feed"
3. The reamer will do the work for a smooth cut. Go slow. Don't try to force the reamer thru the bushing.. just let it slowly cut. Apply slight pressure with your thumb on end of reamer. NEVER turn it backwards, but do clean out the shavings.
4. I use a dark thread cutting oil.
Note: I have reamed a fair number of bushings with these reamers. The fit will be slightly looser than having them align honed, but I have never had a problem with excessive front end play or shimmy after reaming.
Good luck !
PS.. I always have extra bushings on hand
