That shaft goes clear through the column. You would have to "tear out" (remove) the column anyway, and even after you have done that it's a major pain to remove the shaft as it's not designed to be removed, although if you bend enough metal you can get it out. And one would have to sacrifice a column to get the shaft out.
I'm sure a column will work for p/s or non, but you might have to do something with intermediate shaft length, though likely you won't but if you do it's easy. Hit the link and scroll down for description of the shaft. Don't modify it without knowing how it works as it's a safety item designed to collapse in a front end collision. Ask first, many here will help you.
http://www.agcoauto.com/content/news/p2_articleid/186
I'd recommend putting it back together as I described and weld an old junker steering wheel on it. Then, when you can afford it, get a column. That would be a good time to put on the power gear and pump. Determine if you have a "short" (original) style water pump of if someone has installed a "long" (later years) water pump to get the correct p/s pump brackets. I'd also recommend getting the pump, hoses, and gear off the same truck to avoid mis-matches on the flow valve and hoses. Then get appropriate brackets.