Whining steering..?

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I need a new rack, was it tough to put in? The $500 I was quoted to have it installed seems a bit excessive for a $75 part

It is NOT very tough to put in but you will still need to have it aligned once it's done. Pick up a Haynes or Chilton manual before you tackle it. Pay special attention to the tools required.
 
Yeah I've got a chiltons, (I have a haynes actually but 'f' haynes, it's the worst) I haven't cracked it open to take a look at er yet in regards to the rack. I guess the hardest part for me will prob be getting under that low bastard.. Oh and yeah I realize an alignment would be needed after
 
You can get Chiltons off of Amazon. I just purchased a Chiltons and a Haynes for Fox Body Mustangs. They were cheap at that, I paid less than $10 each. They should be here any day, and then starts the fun part. Picking what to do first.

And with regards to steering racks. I should be replacing mine very soon, the guy I bought the car from offered to do it for free since he knew it needed it.
Should I allow him/us to put in one from another 5.0 or should I spend the 75 and buy a new one?
Also is this Mercon V a synthetic PS fluid? I also have the bad PS whining, and my fluid it topped off... Should it just be bled and filled with the Mercon V or should I also replace the PS pump?