Yes, it is good to replace it, but this does not guarantee that the vert gear's end-play will then be in spec (0.1mm - 0.25mm).
In my case, I still have about 1.5mm of vertical endplay with a new bushing. This is likely the result of gear wear plus wear of the other thrust bushing under the other end of the tach shaft.
By keeping the vert end-play closer to spec, I expect to reduce the wear rate on the gears.
About 12,000 miles ago I put a copper injector seal (1.5mm thick) on the vertical gear, as suggested in the forum, to reduce the end-play I had at the time. When I did a routine maintenance check again recently I found that the excessive end-play was back to about 1.5mm. I removed the vertical gear and found that the copper shim was totally gone, but there really wasn't any significant wear of the brass thrust bushing itself that I could see.
Nevertheless, I bought a new thrust bushing and this still gave me 1.5mm of vertical end-play. So this time I want to shim under the thrust bushing itself, if I can press out that bushing. I'm going to try a 2 jaw gear puller to push it out.
For now, I put a new copper injector seal back on the vertical gear shaft. It may be my imagination, but I my tach needle is rock-steady at idle as compared with before this shim.