The original rubber bush simply allows for the small rotation needed at the wishbone axis. It doesn't act as a damping system. The strut road spring/shock absorber does that. Due to the nature and design of the bush, natural forces will also allow a small lateral movement of the wishbone, leading to steering shudder on some surfaces.
The concentric bearing design of the Polyflex system eliminates virtually all lateral shimmy while giving a controlled rotation on the axis. The amount of rotation needed is relatively small, only a centimetre or two on the inner bore. On the face of it, this design might well have superseded the original had the cars continued in development.
TC