Im going to go look at router stuff today so it will probably make more sense later.
The bushing is a piece that mounts before the bit that lets you ride along an edge to guide the cutting bit. Its at the base of the router so in our case when cutting your actual control panel it would be riding the edge of our template.
However when cutting the actual template you did not use a bushing, instead you used one of those pattern bits with the bearing on the end of it (flush trim bit) and let the bearing guide you instead of the bushing.
Is that correct? It just seems odd as I thought we used the bushings to eliminate the need for one of the bits with the bearings on it. You could do it with just a normal bit and a bushing right, or is perhaps the bushing to big to get the corners right.
I guess the final picture confuses me its stained but it looks like the bottom, so you can stick the joystick up through it so this is a bottom mounted build you did right? If it was top mounted the base of the joystick wont fit through that hole. But if it is bottom mounted I dont know why the part you wont see was stained?
Then there is the question of terms. You cut the jig with a bit that has a bearing on the tip, when I googled "flush trim bit" I get those with the bearing at the top: http://www.rockler.com/product.cfm?page=5411
This would work, you could just have the template for the jig on the top instead of the bottom I suppose, also these seem to be popular - http://www.mlcswoodworking.com/shopsite_sc/store/html/smarthtml/pages/bt_flush.html
2nd to last one with bearing at the shaft and the tip of the bit.
For me it seems that I would use the one with the bearing at the top more often so that you can cut into things, if your cutting into something you cant have the bearing on the tip of the bit.