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Underdrive pulleys are a popular performance mod. However, many people have found that they need to add an overdrive pulley for the alternator when adding an UD pulley so it will keep the battery charged at idle. How much you would gain is hard to say.
As for the power steering delete, I don't know if I would want to try that. I have tried to EOC in my Escort, and even at about 40 mph the steering felt very heavy, probably too heavy for an emergency avoidance maneuver. I know this car is available without PS, but I believe a manual steering equipped car would have a much lower steering ratio (i.e. more turns lock to lock for less effort).
FWIW, you can also get an electric water pump for some cars, another common performance mod.
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