Ive seen you lurking..... I would always see username "walnuts" up there.. I got a good laugh everytime.....
I actually should have a 95, as my Q is one of the last 94s made (for instance, mine and Rsiwicki's Q are only a month apart)..
I had a torn boot too, but no leaks so I just replaced the boot. My steering rack is apparently in perfect condition

YAY!
After you get the immediate things done you can start thinking about getting you up to par.....
As far as replacing the rack, id at least replace the boots first and then if it poops out you can worry about it later, IMHO.. But if the seals are really shot then you need immediate attention as steering rack failure isnt something you wanna play with!!!! The boot kit is like $20 (I reaplced when I did my suspension stuff)