The new bushing has a different design. Instead of snapping onto the shifter it has a "top hat" design that sits in the "turret" and can't fall off the shifter. Aluminum and brass bushings are available, but I went with this delrin unit because it will absorb some vibrations and won't transmit heat. I've also heard the metal ones can get stuck in the turret, which obviously isn't good.
Here's the turret without the bushing.
Here's what it looks like installed. I added a little more oil than you see here.
Just playing with the shifter in the driveway, it feels significantly smoother. I might just be imagining that, but I'm happy.