My PS pump went kablooey on me the other day and I removed it. Still working on the first tank since I ripped it out, but it has definitely helped some. My going guess is somewhere between 1 and 2.5mpg based on trips I've frequented many times in the past. I can't see how it would damage a rack and pinion or gearbox set up, as long as there was still fluid in the system.
If I had to make my best educated guess, I'd say it's been worth 1.5mpg in my truck. Yours might be more or less depending on how much parasitic drag the unit had on your engine.
Regarding calibration, I've noticed a big difference on my second fill up. After that second fill up its been pretty good...with only a few percent deviation from there on out. My wife's car only required 1 fill up to get well calibrated, but both times I've had the SG out of my truck it took 2 fills to get her dialed in again.
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