Actually the collect bushing did improve accuracy quite a bit compared to the looser fitting bushings of the Commercial Model, and no, they don't compare to a well fitted solid bushing common today. I've only ever seen one collect bushing break in my 30+ years messing with the 1911 platform, the majority broke because people would not take them down correctly.
And to add to the confusion, there are 80 series pistols with the collet bushing. I have one.