Most tractor dealers would have a bushing kit for CAT II to CAT I which is a set of bushings that has inside diameter (id) of Cat I and an outside diamter(od)of Cat II. Use the CAT I hitch pins and slide the bushings into the CAT II sleeve. This is for all tractors.
CAT I Top Link Pins are 3/4 inch in Diameter & decimal is 0.75 inch
Lift Arm Pins are 7/8 inch in Diameter & decimal is .875 inch.
CAT II Top Link Pins are 1 inch in Diameter & decimal is of course 1.0 inch.
Lift Arm Pins are 1 and 1/8 inch in Diameter & decimal is 1.125 inch.
Alternative 2 is not pretty, requires machining/grinding and still leaves some slack.
For a top link bushing:
SCH 40 Steel Pipe of ¾ inch (.75 decimal inch) is 1.05"od and 0.82"id; so you'll machine off nearly 3/64 from the od, you'll have one home made top link bushing and inside will have some slack.
If you find SCH 80 steel pipe ¾ inch (.75 decimal inch) it has the same 1.05" od and 0.74" id. Machine to fit od and the id.
Arm Lifts bushings:
SCH 40 steel pipe of 1" is 1.32 od - 1.05 id
SCH 80 steel pipe of 1" is 1.32 od - 0.96 id
Machine the outside to 1.125" - nearly 13/64 and inside of SCH 80 pipe 3/64.
Never mind about Alternative 2. go find the bushing kit at a dealer.