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.
http://www.youtube.com/watch?v=oZ9IKbRu91o
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 by r0ckstarr, on Flickr
This also works too, and I can verify that it does from experience for getting the rubber out of the casing.
http://www.youtube.com/watch?v=oZ9IKbRu91o
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 by r0ckstarr, on Flickr