From past experience - a PS rack steers much easier if you can get most of the fluid out of it. This is pretty easy to do. Simply diconnect the hoses, put them into a bucket and go lock to lock several times. Then do your "bypass hose" trick to keep dirt out of the system. If you can get most of the fluid out of the cylinders, you won't have to push it back and forth in manual mode.
The best way to find a PS underdrive pulley would be a tour of the junkyard. You'll find that most Ford vehicles use the same PS pump. Taurus, Explorer, Thunderbird, F series, etc. If you can snag yourself a pump with a pulley that is 20 to 50% larger, you'll be set.
Lowering the bypass pressure will lower the pressure seen by the pump. Mechanically, the more efficient route is to slow it down so that it makes less pressure in the first place, rather than spilling it off.
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