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So, I am a cheap bastard and have access to a complete machine shop at work. Instead of buying poly bushings I am toying with the idea of making my own bushings.
So, what is best: Delrin or nylon?
What other limitation am I looking at?

The only bushings you can make out of such hard material is really only the propeller bushing in the watts linkage and possibly the inner ones in the lower control arm (but they are really stiff from the factory).
You can't make stiff bushings for any application that has any form of bending load, only pure rotation is possible or they will bind up = no working suspension = slow and dangerous.

I would have used Delrin though.

Delrin can be easier to machine than Nylon or UHMW or similar.

Delrin and stainless makes for an excellent dry bearing/bushing.

Check out the attached pic. The white parts are Delrin. We use it for bushing blocks all the time here.