You don't need the pump but you could bugger up the steering box by removing lines. Loop back? I cant see how. Can you get a magnet on a stick to get stud? PS has it's own drivebelt correct? take belt off and leave pump on and connected to steering box.
Thanks for the suggestions, especially the one about using a magnet to get the stud out. I spent my whole lunch break today trying to find a machine shop to extract this stud, but I never actually tried removing it myself. Tonight I finally gave it a try, and I was able to extract it with my fingertip in about 15 seconds . I bought a 3'' 3/8-16 stud at the local hardware store & was able to replace the broken post. All is well now!