Gary, My father and I helped my brother replace his steering rack last year at about 180K miles. It was leaking badly and had been damaged presumably from running without fluid.
I've not done the job on a 940, but I can almost guarantee that it's a much tougher job on the 850. The 940 is a front steer car (I assume it's similar to the 240). These are almost invariably simpler than a rear steer car like the 850. We spent the better part of a weekend under the car. Make sure you have jackstands and a good jack along with some wood as you'll not only need to jack the car up, but the engine/tranny too. I remember having to do some contortionist moves and some tricks with really long extensions.
It's not unthinkable that it would need new tie rod ends or lower ball joints. On my '95 I found the ball joints were pretty sloppy when I changed them at ~135K. I'd avoid it if possible though because you have to replave the whole lower control arm. I paid $75 each for aftermarket ones because the originals were about double that.
Good Luck. It's not an easy job, but it's doable.
--Will R.
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'95 850GLT - 141K miles - http://www2.mne.psu.edu/sae/FSAE/
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