I wouldnt replace the rack just yet
If anything repalce the lines and filter and fluid.
This has helped 100's of GMs I have worked on.
To bleed your powersteering you will need to jack the frint wheels off the ground.
- First fill the resivoir, and allow it to set for 2-3 minutes.
- start the car and let it run for 2-3 seconds only.
- check and refill if necessary as the above procedure until the level is constant.
- Raise the front wheels of the vehicle off the ground.
- Start the engine and increase engien speed to about 1500rpms, now turn the steering wheel slowly from right stop to left stop.
- with engine running lower the vehicle and turn the steering wheel right-to-left as before without holding at the stops.
- Recheck the fluid level, if its foamy allow it to set for several minutes with the engine off, then repeat the above procedures.
- If its still foamy after several attempts thier could be something wrong with the PS system.
- Low fluid level is the #1 cause of pump failures.
If you replace the PS hoses it will take up to 2hrs to fully releave the system of foamy fluid.
Also switching to sythetic PS fluid will help you system function better and last longer.
Hope that helsp!