This is two reciently and maybe 3 in the past year or so. I think one guy had the shock drop out the bottom. WOW this was a close one!!!
I just replaced all my rear bushings, isn`t all that bad a job. only if you want it to be. I droped the whole sub frame assy., but I removed the diff and axles first thinking it would reduce weight.'
next time at home the whole thing is coming down with 3 jacks.
Disconnect the driveline at the diff., leave the disc on the diff.
Disconnect the park brake cables at the connection under the car, then they slide out of the grommets on each side and where the one side clamps to the floor.
Unbolt the calipers and hang on the sway bar.
place a jack under the Diff and one under each trailing arm.
remove the shocks.
unbolt the diff mount
As you lower it down some, the springs will fall out.
Unbolt the sub frame bolts
then lower down the assembly.
the trailing arm I believe is a 24mm bolt (2) on each side.
I suppose you could lower down the side that is damaged only, but I haven`t done it. maybe some one that has will chime in.
when you get the parts at the junk yard, try to locate one with low milage, this way you will get newer rear bearings. the W126 will also fit the W123. there is a chart that shows the cross reference. I think it was $42 for each trailing arm with the hub when I pulled mine.
This would be a good time to replace your bushings, but all depends on time and if this is your only car.
Iam doing this from memory, might be another step or two in there.
Charlie