Hmm... I was doing some searches on the 420SEL, because I really like this body style and the "less complex" rear suspension. One day if the right one comes along, I may buy one, but for now, I love my 380SE.
I am wondering though, did you ever get this task completed? It sounds like they designed the car around the suspension, or thinking that these bushings would never need replaced.

They should have came up with something better. Was this the same set-up as the 81-85 W126 models?
I hope mine never needs this if that is the case.
I know this thread is old.... Hopefully all went smoothly.