Pilot bushing direction

The sky is not falling
the back of that crank looks correct for a 4sp - no shaft cutting required
why the op is putting in a bushing instead of the roller bearing is what is important. Use the roller bearing and dial in the bell housing so it is in line with the crank-that is the other really important item. Do not use the bushing. Do not listen to the naysayers, just like timing chain tensioners...they work when installed properly