Trailing Arm Bushing on '98 Civic

I took my car into the dealer this morning for a service appointment
(it's still under warranty), and they've called to inform me that I
have a huge split in my trailing arm bushing and need to have it
replaced to the tune of $465. I called the mechanic that I go to
otherwise, and he won't give me an exact quote until he sees the car.

I have two questions:

1)Is this price as ridiculous as I think it is? and
2)How likely is it that my trailing arm bushing actually needs to be
replaced? What will happen if I don't replace it?

They also told me I have a leak in my oil pan gasket which they can
fix for $275 - my mechanic told me that would only cost about $120.
Any suggestions or input on either repair would be very much
appreciated.

 

never heard of that happening. they wear over time, but thats kinda odd.
does the car wander?

just be careful when they mention "blinker fluid" and "muffler bearings"

 

What year/model Honda are we talking about?

And why is the trailing arm bushing not covered under warranty?

Either way, say no and take it to your private mechanic if they won't
replace it free.

 

98 Civic Rear Trailing Arm Bushing Here:

http://www.hparts.com/part_lookup.php3?partno=52385-sr3-000&submit2.x=55&sub
mit2.y=7

$35.00 ea.