There is one rig, not a truck with a rack hanging off the back of an I beam in the PNW that has been around for years but as good as he says it drives it is still a bulky ugly mess hanging on the axle.
Reason for thinking rack?
Other options?
If I wanted power steering on that truck and had the room I think I would look into installing a cross steer setup using something like a Chevelle steering box mounted on the inside of the frame rail. Or a power steering box off of a GM 4X4 might even be easier to set up and pretty simple. as they run a drag link back to the steering arm on the axle the only big issue might be clearance between the tire and the steering box and linkage.