That's exactly why mine was looped at the pinion instead of the rack for years... that and my own ignorance.
When I did my conversion, I was COMPLETELY rebuilding my neon from the ground up. I had the engine out and all components taken off to clean. I was planning on buying a manual rack ($$$), but then googled up that somebody with, I think it was a miata, had converted theirs over as I described. I pulled the steering rack out and worked on it on a bench. After following that, but it all back together, some mild adjustment, and now am a happy camper. In fact, I sold this car to a friend with the pinion looped and he hated it. After I bought it back from him and did the rebuild, I let him drive it and he noted the steering was FAR more tolerable.
So yeah, if you don't have access to pulling it all apart like that, loop what you can. If you can get under the car, though, you may be able to pull the lines at the rotary valve connection and at least drain you more fluid that way. Possibly looping the rack using the factory tubing, too!
But I guess ANYTHING beats just removing the belt off the pump!
lol