C4 leak

Okay, so the C4 transmission from my '66 has been leaking lately out of the gap in the inspection cover. It was leaking from inside the bellhousing so my first guess was that the front pump seal blew out. I pulled the engine out this weekend to replace the front pump seal but it looked great. The seal was still on square and looked to be in good shape but i could see how the transmission fluid was leaking down the inside of the bellhousing where the front pump seal is.
Well, I went ahead and took out the seal to replace and found a bushing loose around the shaft. I don't know much about transmissions so I don't know specifically what this part is. It was the same diameter as the seal and had a kind of a channel running at a 45 degree angle on the inside. The bushing was bent out of shape but didn't show any unnatural wear. I really dont know what this means. It wasnt leaking out of the seal so the bushing must be to blame?
Should I just replace the bearing or do you guys think there is a bigger problem?

Sorry about having no pictures.

Thanks Tim,
It's a brand new 2500 stall converter i bought to go with my new 347. It hadn't been in there long enough to show wear.
How difficult of a job might it be? I don't know a damn about the internals of a transmission but I'm not afraid of hard work either.


Thanks,
Garrett

Thanks for the e-mail. It went well I got the bushing back in there fine and am just waiting for the parts store to get the o-ring in and ill put the pump assembly back in.