I replaced this bushing on my 1995 E320 wagon about 2 weeks ago. These are the highlights of my experience.
I removed the two bolts that hold the lower end of the shock and the sway bar end link and was able to lower the control arm out of the way.
I bent the dust shield enough to get good access to the bushing.
The next 4 or 5 hours were spent trying various options for removing the bushing. I ultimately made a puller from a short length (~1.5") of 1.5" i.d. steel pipe that actually measured about 1.6" on the i.d. I had to do some creative grinding to get it to mate with the cast surface of the knuckle. It is important for this part to sit relatively square with respect to the bushing so that the pulling forces are even. I positioned this part on the knuckle toward the rear of the car and used a socket on the other side to contact the outer part of the bushing. I used a 1/2" diameter bolt through a very thick washer placed on the end of the 1.5" tubing.

This removed the bushing without incident and I installed the new bushing from the inside of the knuckle and bulled it toward the rear the same as when removing the old bushing but had to fabricate a special thick washer to contact the outer part of the new bushing with relief for the inner part as the socket was too long to fit. One could probably use the tubing on the inside of the knuckle and press the new part in from the outside and have room for the socket. I didn't want to deal with getting the tubing to sit squarely on the inside surface that was difficult to see.

BTW this was done in my home garage using jack stands and a floor jack.