Fist of all there are two versions, The first, hydraulic fluid is pumped from a tandem pump with the power steering unit to the rear, the struts (shock look a likes) are tied along with accumulators (a sphere with a rubber diapram filled with nitogen) to this line. The pressure comes thru and is regulated by an axle mounted valve that is attached to the sway bar, and there is constant circulation back to the reservoir mounted in the front fender. The second is almost identical but has valves on the front shocks, and another valve in the rear line and is controlled electrically by a body computer for selective damping via sensors and a drivers switch. The accumulators usually fail, and are a cheap repair, the rest is pretty bulletproof.
There have been those who have converted both systems, but concensus is why? The issues that arrive are as follows the springs were calibrated for residual pressure in the system and must be shimmed or replaced, the pump can not just be drained so the fluid must ciculate, there are some who have replaced the PS pump with one that did not have the tandem function. The shocks can be replaced with standard units is the only good news. I dont think most people would buy the car if they find out it das been modified, it is a great feature. I would find someone who understands the system and have it fixed, any squeeks coming from the struts and shocks can be fixed by getting new bushings. ABS is a stand alone system!