I owned 2 Coulson CP reels in the past. One was a bushing and one was bearing. As I recall, they were both 3 3/4". I seem to remember that Ron Coulson was living in New Westminster at the time. He was a watch maker by trade. I actually inherited a really nice Waltham pocket watch from my Grandfather that wasn't working. I asked Ron to have a look at it and he invited me over to his home. I'll never forget when he opened up that watch and started ripping out all these tiny pieces on his coffee table! It took him about 5 minutes to find the problem. He then brought out a container of watch parts, picked out the piece I needed, installed it, reassembled the watch, and wound it up. All in about 20 minutes! I was very impressed!! This was probably 25 - 30 years ago and that watch still runs accurate today.
When I looked on Google for Coulson reels, I noticed that an image of a reel with "COULSON" engraved on the spool. I think this was a very early version and not the CP's I was used to seeing. The reels I'm referring to look more like a Silex. Incredibly well machined (BTW, I do not believe they were CNC. Way to early for that). Of all the CP's I've owned, these were my favourites hands down. If my memory serves me right, I think Ron made about 20 or so of these. If I was given the choice between the bushing or the bearing, I would probably take the bushing. They both fish fantastic, but bushings are simply less hassle in my opinion.
Hope this helps,
Brian