rack and pinion or springs and shocks first?

Replace the rack first. It is much easier than the struts & springs.

The two inner tie rod ends are usually what wears out, and at $45 each, it's better to get a replacement rack assembly since they are part of the package. The rack is about $100 + a $40 refundable core charge, which you get back when you return the old rack. Be sure to ask for the GT or high performance rack, it has fewer turns lock to lock than the standard rack.

The flex coupling for the steering shaft needs to be disconnected before you can get the rack out. You should disassemble the coupling by undoing the 2 bolts that hold it together. The lower part of the coupling will then come out with the rack, and can easily be removed.

The tie rod ends can be removed with a tool that looks like a giant "pickle fork", it's less than $8, or some stores will rent/loan one. Remove the cotter pin & nut on the tie end, stick the tool between the rod end and the arm it connects and hammer away. The bigger the hammer, the easier it comes apart.

Remove the two bolts that bolt the rack assembly to the frame and then pull the rack down. Get a catch pan to dump the fluid in when you disconnect the hydraulic lines. I replaced the rack mount bushings with some Energy Suspension urethane ones. When you re-install the rack assembly, put the rear bushings in the rack assembly and lift it into place. Then install the front bushings & washers and tighten down the nuts. Doing it this way makes room for the hydraulic lines without having them bind against the frame.

To change the tie rod ends, do them one at a time. Loosen the jam nut 1/4 turn, then unscrew the tie rod end from the rack. Turn the jam nut back 1/4 turn to return it to its original position. With the tie rod end removed, use a machinist square to measure the distance between the end of the threaded rod and the jam nut. Sit the bottom of the square against the end of the threaded rod, and the end of the blade of the square against the jam nut. Duplicate the measurement on the new rack and then install the tie rod end and tighten the jam nut. Then do the other side: the front end will need aligning, but the toe in will be close enough to the setting of the original rack to drive.

Buy several extra quarts of fluid to run through the system to flush it when you change the rack. The car needs to be up on jackstands for the next step. Fill the pump up, start the car, and turn the wheels lock to lock to bleed the air out. Then stop the engine, disconnect the low pressure hose (the one that is secured with a hose clamp) and drain the pump. Re-connect, refill and do it several more times or until the fluid looks clear and not burnt or black.

Don't you have to get an alignment after you change the rack?

Springs and struts are a peice of cake. Put the front end on jack stands so the suspension can droop. Pulls the wheels, then the calipers. Then the 2 large bolts on the bottom of the strut. Now put your floor jack under the A-arm, then remove the top bolt on the strut (under the hood). Next remove the small nut from the top of the sway bar link. The A-arm can now be lowered to remove the pressure off of the coil spring. Lower the jack stand slowly until there is no more pressure on the springs, pull them out. Install the new isolators on your new springs, put the new springs in top first and make sure its "clocked" the same way as the old springs (the pigtail in relation to the car). You may have to use a bit of force to get the new spring in, I used a crowbar. Have a buddy then slowly raise the A-arm up until you can re-attach the sway bar link and install the new strut just like the old one was. There, I only left out the parts where the bolts are rusted and you scrape your knuckles and cuss.

I did my rack few months before my suspension. If i had to redo again, I'd do both within same wk or two. Only because, both take about same time. Also no matter how much i tried to keep alignment the same during install, it was off. Drove on the stang for about a week pulling to the left REAL BAD. Shop said it was about 9* off which was still enuf to cause probs. Looked at my tire and showed it started coning . IMO if your car isn't hurting and is driveable save bit more $$ first. Then install the springs first and w/in the same wk or two install the rack. You're going to have to get it aligned if you do one or the other.... so you might as well do it one time and not have to pay for alignment twice.

It would be good if you could do them about the same time, as you would only have to have it aligned once.

I manage to need alignment nearly every time I do anything to the front end stuff.