My 1966 Beetle and 1955 Ford Fairlane did not have power steering when i owned them in the 80's. I knew no different. I guess I could get use to it but how much gain in mpg could it be? if it's 5mpg+ I'll go remove it today, but if not then I'm keeping it!
Here's a thought: Why not put a clutch on the powersteering shaft like a AC compressor and have it switched off till it's needed while parking? Huge effort and some cost involved but the best of both worlds?
And thought #2: do the same with the alternator.