I don't know about removing the a/c compressor - but there have been discussions re. running the belt directly to the power steering pump, and not indirectly the A/C.

Bear in mind that the a/c compressor has a clutch; it's front pulley is spinning free unless the a/c is switched on.

To see about removing the a/c compressor completely you'd need to take a look at how the p/s is mounted; I think it might be mounted on the same bracket that holds the a/c compressor.

240s up to '83 or thereabouts had an earlier power steering system that allows a pretty easy mod to run a belt directly from the main crankshaft pulley.

See ipdusa.com - they sell the adapter to let you do that.

To ID the two types of power steering:
That earlier version has the power steering fluid reservoir mounted on the p/s pump. The later version has a plastic p/s reservoir mounted on a bracket on the driver side fender wall.

If you have the later type then usually the discussion is re. how to best bypass the a/c compressor pulleys, and run the power steering pump directly off the main crank pulley I haven't done it but I think my preference would be to get a slightly longer, hardened mount bolt for the power steering pump that will let the pump sit forward about 3/4 inch from its original location. Hardened bolt because it will receive lots of bending force. Of course the bolt is metric but I think 5/8" will work. Use bushings + washers etc. to relocate it forward, then a belt can drive it from the same pulley that used to run the a/c compressor. Be sure to use new rubber mount bushings for the pump. Poly bushings is a good idea; see fcpgroton.com. The mount bushings will take additional stress just like the bolt so the harder poly might be a good idea.

I've seen many posts re. you can steal a belt location from the alternator + water pump setup, and easily use it to drive the power steering. That leaves only one belt driving the alt + pump. I won't do that because I want the security of two belts driving those critical components. 2 belts can deliver the needed power with less belt tension, which = less wear on the bearings.
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Sven: '89 245 NA, 951 ECU, open-front airbox, E-fan, 205/65-15's, IPD sways, E-Codes, amber front corner reflectors, quad horns. Wifemobile '89 245 NA stock. 90 244 NA spare, runs.