whatever bushings you replace, replace them with M3 bushings, they don't fail prematurely like the regular E36 ones fail. They are slightly stiffer, which is a good thing... to a point. I like the feel of them a lot.
Rear shock mounts, rear traling arm bushings, and front lower control arm bushings tend to die out first and you should replace them all every 80,000 miles or so. RTAB's are a total pain and can take upwards of 2-3 hours per side. I recomend you install shims while your at it to reduce the ammount of wiggle that is allowed in the RTA.
once again: replace all bushings with M3 stock. They are of higher quality so last longer and hold up to much more abuse.
As for the steering wheel shake, it could be a number of things. Most likely it's a warped rotor in the front that causes a shake. If it's really bad, you need to replace the rotors on both sides. (preferably all around) (in a TIGHT money pinch, just a replacement will work, not reccomended!) If it's just a little shakey during breaking, after a few months (3-6) it will probably go away due to the wear on the rotor. The 2nd most common thing to cause shakeyness are loose and worn out bushings as you assumed.
Rotor warp is usually caused by an uneaven cooling of the disc. This is most always caused by water splashing onto a portion of hot rotor, significantly cooling that portion quickly, causing it to shrink ever so slightly, subsequently causing it to be permanently bent since the whole rotor isn't uniformally changing temperature.