My drivers side power steering rack boot is ripped and I have to remove the tie rod to slip the new boot over. I have read several past post about the need for a wheel alignment after this repair. However, would the steering be off that much if I backed off the lock nut and loosened the tie rod, say two turns, and then put boot on and reset two turns?

 

I wouldn't think you'd be off by much. I probably wouldn't bother with an alignment unless you notice pulling after you've done the replacement.