I opened the hood yesterday to start work on the cooling system. Right away, it was apparent why the power steering had failed: one of the two bolts holding the pump had sheared right off. Oddly, I noticed the broken bolt–jammed in a crevice in the motor, before I realized where it came from, and that the power steering pump was hanging loosely.
Chances are that the pump froze, snapping the bolt against the pressure of the belt. Removal of the pump itself was easy. Aside from the last bolt connecting it to the motor, there were two hose fittings to disconnect. Both came apart smoothly.
With that pump off and the alternator disconnected, we started to remove the old hoses and water pump. Most of the hoses were either soft (especially the lower radiator hose) or rock hard (the smaller hoses leading to the carburetor plate, for example).
There are two oddities with the cooling system right now. When left to idle for a long while, the car will overheat, even on a cool day. When driving at normal speeds, the engine runs too cold. I blamed both conditions on a missing thermostat: without it, the coolant can flow too freely in the motor at speed. At idle, the coolant may not have time to cool off in the radiator, leading to overheating.
There was, in fact, a thermostat installed. I’ll put in a new one, as well as a new radiator cap and see if either condition improves.
A complete photojournal of the disassembly process is uploaded to my photobucket account.