Not sure how true this is but I just read about it and it seems that
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bushings are better for high impact, low speed joints.
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Not sure if that answers your question (hey, I'm not doing Mech. Eng., I'm in Comp. Sci.). I don't know what that means but that's what I found after 30 seconds on google.
EDIT: lemegacool: It seems that bearings applied properly provide better alignment, less friction, and last longer. (This is from a motorcycle forum so I don't know how relevant it is to this)