Will,

It isn't true that your rack is done if it's just leaking fluid. Before replacing the rack, try flushing the old fluid and replacing it with synthetic ATF. The synthetic will clean the leaking seals and rejuvenate them so they stop leaking. If you don't want to do a full flush you could use the turkey baster method instead. Empty the the PS reservoir everyday and replace with synthetic ATF every day for 4 or 5 days, then you'll essentially have new fluid in the system.

FWIW - 3 years ago my 855 had a slow leak through both rack seals. Used the turkey baster method, replaced with Mobil synthetic ATF and the leaks dried up in about a month or two. Now 3 years later and at 230k the rack doesn't leak a drop and works great! Synthetic ATF is fabulous stuff for your tranny or your PS system. I have it in both my car and have no leaks...

Good luck,
Jim