304 will machine ok, although if you are not intending to weld it then 303 is a material specially made for machining, its available in most diameters of bar stock.
Cant you use a standard tube size?.
the stainless id that bit harder and maybe there is need for that but id say f it was a manufacturer they would just make it out of MS.
i take it your painting it anyways and have the space to beef up the ms a bit to be sure to be sure.
it's for wishbone bushes and subframe, so I guess stainless will give the best corrosion resistance, the original ones that were in the rubber bushes have suffered with rust, despite being plated, but also give too much play in the new polyurethane bushes
if you have the material then why not then so.
its the better steel altho it id be no harm if the link rod was stainless too.
might as well get hung for a sheep as a lamb ho.