An interesting idea but the link is for use on a scroll saw and will be exposed to constant wood dust.
Please could you clarify whether the linkage is reciprocating rather than rotating?
For a rotating device, the bearings will be OK.
If it is (only) reciprocating, bearings might not be so good as there would never be 360 degrees of movement in the bearing and in that case, rose joints or plain oilite bushes may be better. It is possible to buy rubber dust boots for rose joints.
The only "problem" is the lateral distance between the two bearings (AND getting them both on the same centre line)
We would need more details from the OP, but if it is just a single linkage, with one only used on any particular machine, the absolute value of the distance between the bearings is not so important nor, within reason, is the position of the holes relative to the surrounding material.
For links used in pairs, the hole centres of the two items must match, to be sure, so there is no binding.