I've been running the one I built for about 10 years and 70,000 miles, my strike plates are not nearly as worn as Corbet's and I haven't replaced the bearings to date. When I built I had plans to add some HDPE skids to the swings or the bumper top to take some of that vertical load and reduce any squeaks.. but I still haven't gotten around to it and don't really see any need today.
One thing I'd suggest is to be sure the two arms are not perfectly parallel when you weld the stops but rather should be "open" about 1/4-1/2" so when the latch draws the two arms together so they'll put some forward pressure on the stops. This should reduce clatter and make the latch adjustment effective in controlling the "closing" force somewhat. You'll see what I mean when you get there.
I should really pull mine for a repaint and freshen up the bearings noticing how long I've been punishing it.
Build on, they are awesome bumpers!