Skip, you'll love the car's handling after you finish the rebuild. I just finished mine, completely rebuilt the whole front suspension in my '74 MK III Midget (including the steering rack - it was toast) and it's great, better than new. Had rotors turned, new ceramic brake pads, too. Car stops noticably better (I have SS brake lines).
One BIG surprise we got was the lower A-arms were dangerously cracked! Both A-arms had visible, longitudinal cracks in them, apparently originating where the sway bar attached (I installed a smaller, 3/8" sway bar in my rebuild - the bigger bar seems like overkill in a street car). It's a <span style="font-style: italic">miracle</span> I didn't lose the whole front suspension on one of my "spirited" drives to car shows late last summer. Please be sure to <span style="text-decoration: underline">carefully</span> inspect your A-arms! They take a lot of stress, and they're 30++ years old, too.
Also, don't forget your wheel bearings, might as well do it all while you're in there.
I used rubber bushes, FWIW, just to stay "somewhat" original and they are very satisfactory. I used poly bushes in previous Triumph jobs and they noticably stiffened the ride. Didn't want this for the Modget. My rear suspension is pretty new so the car's suspension is now new, and essentially stock.
End result: it handles surprisingly well. Just a little body roll, but easy to control. Soaks up bumps and potholes nicely, no rattles! I'd forgotten how well-balanced a Midget is: handling is smooth and predictable with practically no under/oversteer. Darn close to a modern car and a heckuva lot more fun!!!
I think some folks might like a bit tighter suspension than my setup, but I don't race or thrash this car (well, at least not much :b) so my "original" suspension setup is perfect for me. Again, I'm surpised at how soft the ride is, but with really great handling.
Please keep us informed. I wish I'd posted photos of my rebuild, but I had two guys helping and they didn't want to pose for photos.
Good luck!