What function does the steering damper attached to the steering rack serve? Does it work like a bushing where it absorbs impact from the road? Does it dampen only while turning? Very curious because I am deciding if it is worth the $150 to replace.

The part number is 4570030020

Reference diagram

 

It helps absorb the shock and limit the amount of bump steer you experience

 

Thanks for the info man. I do have some bumpsteer after replacing the steering rack. I will be replacing the inner tie rods and hope that the problem goes away. If not I guess I'll be dropping $150 on a new steering damper.