Power steering has no sensors and will not affect the computer.

When you started the car, did you immediately shut it off before the oil pressure stabilized? If so it just might be the "lawnmower syndrome", the hydraulic lifters lifted too high and now you are getting no compression in the cylinders. Another symptom is "easy" cranking, or faster cranking than normal.

Of so, push the gas pedal to the floor (turns off the fuel injectors) and continously crank the starter until it begins to sputter, then let off the gas pedal. The engine will run sloppily for a little while until the plugs are cleaned off - 2-3 minutes. After it is smoothed out, you may shut it down.

As to the screech with the PS pump, you know that it is the pump failing to turn and the S belt is slipping over it. Flush the PS fluid ASAP. And inspect the S belt for wear. Then check out the leak, probably a seal in one of the hoses.

Klaus
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I still miss my 164 and my 854T. Just driving a V70R :)