Ouch, from a lifelong machinist. Using splines to bludgeon material off is just that, use of force. Doing this, you are only using something hard over something soft to achieve questionable aims. Nor is sanding with any paper or media the way to go. Bellmouth shape, barrel shape or taper is almost guaranteed. If you had the means to measure your bushings size, profile and surface finish, rather than just checking if the fit was "OK", you would be amazed. Finesse and exacting machining is what we need here. The shaft is hardened, ground and, presumably, straight as an arrow. You need your bushings, and not just at this application but everywhere, to have as near to an exact match of profile as possible. Proper clearances must be factored in, of course. Your best bet is to take your bushing to a small machine shop (small because the bigger ones are only interested in big $$ customers) and tell them what size you need the bushing bored to. If they're worth a @#$!* they can hold .0005 of your stated size. They are in no position to tell you what these clearances should be. You're going to have to research that and tell them what you want. Exactly what you want.