I've never actually worked on king pins, so I'm a little in the dark about what the proper reamer looks like or how it works, but I'll just throw this out there . . .
I have an adjustable reamer I bought to use on my antique Maytag crank bushings. One of the guys that sells Maytag bushings sells the same reamer for $59, but I found it on eBay for something like $12 including shipping. It's made in China (of course) but it looks and feels like a good quality reamer and they had had them in a variety of sizes. Maytag crank bushings are supposed to be 0.875" I.D. (7/8") Pressing them in the crank housing collapses them slightly, so they need to be reamed. With the adjustable reamer, you can adjust it down from 0.875" to make up for a little wear on the crankshaft if needed. The reamer I bought is adjustable from 0.84375 (27/32") to 0.9375 (15/16")
It would seem to me that the proper size adjustable reamer like the one I have should do the trick for kingpin bushings . . . shouldn't it?