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I've done it and did a write up that's now in the 2nd gen archives, but there's a better writeup here that includes the welding of the pinion shaft: http://forum.teamfc3s.org/showthread.php?t=54847
This has been done to many FD's by Mavel Gear and if you search you'll find some reviews and so on.
What kind of car do you have? I wouldn't think that you can just swap the rack and have it fit, it'll probably require some fabrication. Besides, the FD and the S4 and TII power racks from FC's are all about that ratio anyway, so if you've got one of those, just de-power the stock rack, or if you've got a different FC, get the power rack from any S4 or an S5 TII.