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The 0.0138" thick bushing is extremely easy to make on a lathe... It took me less than half hour to get a 1/2" shaft, drill the center out, and run a tool bit straight inside the "tubing" and remove the extra thickness away.
You are right, it is a little difficult taking the shim/bushing out if you make it just a little too big and have to push the shaft inside. But you can always leave a little space in between, say a couple of 1/100". I believe this will work well for a key way without replacing the bearing inside transmission with a bushing... And the bearing inside the transmission should be more efficient than using a bushing.
I've always found key ways work really well if welding isn't too big for your team.
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