Aside from having a tool for pulling the old centering bushing off, is there a more conventional way of doing it?

I have thought of drilling through the bushing and a headless bolt shank, inserting a pin and then pulling it through a socket with a large washer and nut.

If your driveshaft is typical of Most Mercedes Benz drivefshafts. The Haynes repair manual recommends drilling a 10mm hole through the old sleeve (all the way through) approximately 15mm from the oute face of the sleeve. Next insert a bar into the 10mm hole and extract the sleeve using a lever on each side. Hope this helps.

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1990 190E 2.6
1996 Grand Voyager 3.3
1985 Mustang GT 5.0 5 SPD
1982 Suzuki GS 750T