Just finnished my power steering. It seemed to be one of the easier tasks I have tackled. I went the route of rebuild what I had. Kits were in the $20 range for each part. Didn't work on the pump. Replaced the 4 hoses.
Here are my tips.
Start with the wheels centered.
Draw a picture of the hoses.
Both wheels up and blocked with jack stands. Stay up till you have finished the final adjustments.
The control valve unscrews from the long rod(remove the bolt completely before your try to Twist it off).
Check the forum. Lots of good stuff. Here is one that is real good on slave cylinder rebuild (near the end).
http://corvetteactioncenter.com/forums/showthread.php?t=6925&highlight=cylinder+steering
1st time you crank it up there is strange movement as it fills with fluid. Stand clear. Including steering wheel.
Use line wrenches on the hoses.
I Used gear puller to push slave cylinder off steering bar.
I Used tie rod separater tool to get control valve off steering arm. Both availble at autozone no charge rental.
It a dirty job you might want to consider gloves. Depend on how you feel on that subject. But it has to get clean without junk getting inside. Plug the holes as you clean it up.