It seems to me you are proposing going through a lot of trouble instead of FIXING the system like you should in the first place.

When was the last time the power steering system was flushed? What is the problem with adjusting a drive belt every few months. On ANY car drive belts should be checked at every oil change. It takes about 15 seconds per belt to pull on it to see if it is tight and look at it to see if it is glazed or cracked.

Do you expect belts to run 200,000 miles completely maintenance free?

Good luck,