I'm assuming you want to use late model B-joint/upper arms or their tubular type replacements w/the rest of what you have to be unchanged, if so, yes it would cut the time
You spend reaming down exponentially. Just be sure of the thickness yours vs. the late model, the small dia. may need adjusted depending on the amt. of variation(if any), up
or down depending. I don't personally know anyone who has done this, and have not investigated the dimensions to evaluate poss. problems w/it, but I know many have gone
the other way w/a tapered sleeve bushing. I assume you have the correct taper reamer from someone(Goodson,McMaster-Carr,etc.)? There are two different std.
tapers used in automotive joints, 1.5"/ft. & 2.0"/ft., the former more common. If
you are planning to drive the reamer, usual recommended RPM is approx. -40-.