I agree Joe, after seeing yours I drilled out my oval keel hole and did the same, pressed in a sintered bronze bushing. I built my bushing from some raw stock I had so went with the stock 1/2 inch bolt size for the bore. The O.D. of my bushing turned out to be 1.002, so it pressed in good and snug.
Have you had your boat on the water lately? I went the last two Saturdays. Wheee!