I use an OTC Ball Joint Press for Control Arm bushings. It works great with a few large sized sockets.
This also works too, and I can verify that it does from experience for getting the rubber out of the casing.
I had a bushing that had been in the car since 1966 (actually, all of them were, but one particular one gave me a lot of trouble), and just would not press out without trying to collapse the arm. I did the drill trick to get the rubber out, then used a flat head screw driver and a hammer to try to cave in the metal casing so that it would fall out. When that didn't work, we cut it out.
Riviera Front End Rebuild
, on Flickr