From what I have read and seen, the problem is with the column mounting to the rack, if its solid mounted to the axle. You will need a slip joint in the column someplace so the axle can move up and down. A slip joint wounldn't be that bad only its not a true inline slip, its more of a up and down, in and out slip, and keeping it all inline and free, worries a lot guys. There are some that make it work pretty well and are totaly happy with them.
If you mount the rack to the frame like normal modern stuff, then you have to worry about bump steer every time you see a hump in the road. There seems to be no way to get the tie-rods on the same plain as the axle and keep them there through the whole ark of the spring movement.
A better chice would be a power assisted ram clamped to the draglink like bigger trucks used. Or a power assisted gear box adapted to the original steering arms.
Just my 2 cents worth, Joe