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Gotcha.
I see from your original post that you're stripping it down to steel, so presumably you'll be applying an epoxy barrier coat once that's done. If you're really concerned about losing log material, that would be the time to cut out the old log and have a new one fabricated that can accommodate a bushing. Intuitively (to me, anyway), a bolt-on bushing would be preferable to pressed in one.
Is the original log in bad shape?
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