The early rack bushings have a flanged inner sleeve that rests against the K-member. The stock bushings are removed from the rear of the unit. If they're as warn/loose as you say, they should come out pretty easily. The poly bushes should be 2-piece and install pretty quickly.
I'm trying to remember if I needed to loosen the steering shaft on mine to get the DS bushing tube out (Wasn't enough room to move the rack forward enough to get it out), but I didn't have more than 1.5 hours total in the whole process. The PS one was easy.
For $20 and a little bit of time, you can tackle that. I'd just get a new tie rod and fix that while you're under the car. Less than $50 in parts and a few hours of work you can get rid of the slop in the steering. You can also set your toe with a tape measure in your driveway, and get it pretty darn close.
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