You'll wish you did- if you damage it while working you'll have another thing that needs immediate attention.
I wouldn't necessarily source a used timing device bushing- It could be 1 week away from being as loose as the one you are replacing. A new bushing fits the shaft smartly. The overall length I measured on mine was around .840" , if you measure your replacement part, just make sure it isn't worn out, or nearly so.
If you are going in there, you would serve yourself well to change out the guide rails, tensioner rail, and chain tensioner.
Behind the timing device bushing, the intermediate shaft had a gear on it that meshes with a near-vertical shaft that drives the oil pump. The thrust bushing on this becomes worn, and the gear in thrust will ride up into the "thrust piece", damaging the gears, and possibly grinding up so far that the gears disengage, leaving you with no oil pressure, in spite of a pristine oil pump and a full charge of fresh oil. The replacement cost (new) is $1400 and UP for the replacement intermediate shaft and oil pump drive shaft, sold only as a set. My gears are in good condition, but there was a lot of wear on the thrust piece, and it needed to be replaced. Found one on E-gouge for about $18 shipped. I would rather pay that than for the alternative. You can also find used shafts, but they are $100 and up for each of them.
One thing I didn't do on my "front engine job" (that started out as checking timing chain stretch) was spring for the Mercedes rail pin puller. After the gynastics, gnarled threads, sawing and trimming all-thread, I will buy a puller. I surrender. Most of my time was trying to make bolts, nuts, washers and sleeves for pulling the rails, rather than getting them pulled.
I am still cleaning up after this job. I have a noise that I haven't determined the cause of yet; the car idles nicely, starts easily, and I haven't even adjusted the valves (they are overdue) but I have a sound that seems to be something that was dropped into the engine before I started it. It sounds like a piece of coat hanger wire. Or maybe an entire breadpan- until I search this out, it could be nearly anything!
My cuurently "living" thread is here-
http://www.peachparts.com/shopforum/diesel-discussion/378205-1979-240d-checking-chain-stretch.html
It's long. It got a life all it's own.
Cheers!
snapped_bolt