Another vote for keeping the power steering. It will be your son's daily driver. Having it makes parallel parking much easier. And I've always loved the way the Honda power steering systems feels, as opposed to other makes of cars.

On a side note, last week we swapped the subframe from a GSR coupe w/70K miles into my Si (w/350K miles)... added poly bushings to the steering rack, new tie rod ends and also the rack had a u-joint in much better condition than the Si's... and the car is so much tighter and more solid feeling on the road now. I can hardly wait until autocross this Sunday! My old u-joint was very worn looking. And btw my Si has power steering.