You don't need a bushing wrench because Brown recommends a target take down rather than the military system. With the target take down you remove the slide stop and remove the slide (carefully) Then you can remove the recoil spring. (Actually, it will remove itself if you're not careful) With the recoil spring out there is no tension on the bushing and you can turn it by hand. Once you have done this a few times you will find it easy. The reason for this take down is to preserve the accuracy of the barrel to bushing fit. When there is pressure on the fitting, it grinds against the barrel and wears itself and/or the barrel down.

This makes sense theoretically, but does it truly hold water? Or does it depend on the use of the pistol and how tight the barrel is actually sitting in the bushing?

I have never heard of doing it this way before..to tell ya the truth

I always take my guns down this way, but it's not necessary.  The reason I do it is that it keeps me from scratching up my recoil spring plugs with a bushing wrench.  Also, all my guns with match barrels have step downs.  The barrel is full diameter at the muzzle, turned slightly down about 1/4" back.  The bushings on most of my guns are very tight in the slide, so a wrench is still useful, but I take the slide off, pull out the recoil spring, push the plag back, push the barrel slightly out to the step down, and then turn the bushing witha wrench.

To answer your question, it's completely unecessary to do this on a regular pistol, and though I do this on guns with regular bushings, it's only out of habit.  A stock bushing generally has a lot of looseness, and you will not have wear problems.

I use this method to take down my bullseye 1911. I paid big money to get a target pistol that is tight, accurate, and reliable, so I don't move the barrel bushing unless I have to. My other 1911's get the genuine USGI takedown because the bushing is only finger tight.

No bushing on my  40.
the single stacks  I use my hand, never seen a need for a wrench on  a std 45 system.