Yes! A sealed bearing will stop oil leaking through the bearing but the oil can also leak between the main shaft and a worn sleeve gear bush, apart from other detrimental effects of a worn bush to the running of the gearbox. Ron
Yes they probably will need reaming. The original bush was one long bush #54. The new bushes are usually two shorter ones, entered from each end with a gap in the middle. PM me if you want me to email the gearbox service sheets. Ron