04 vic PI shift question and rack and pinion question

Hey guys, I bought a vic for 250.00 If i'm at full throttle at about 70-80 mph it seems to wander left and right on its own.... Jacekd up the front today at work and the wheels have like 2" of soft play left and right, and its not the tie rods. So safe to assume the rack is shot? It has 202,000 miles on it..

2nd issue Is if I punch it in 1st gear til about 45 mph and let off totally it takes about 5 seconds for it to shift to second.... Not sure if its cuz its going thru 2nd into 3rd? Not sure if thats normal? Will the J-Mod help this?

thanks