Im having a problem with my steering. The steering wheel doesnt feel as tight as it should and feels a bit wobbly, im not sure if this is something in the column or steering rack. Is there a common problem with the steering racks on preludes.

 

The only rack failures I know of are leaks caused by using the wrong power steering fluid. Honda fluid or direct equivalent is the only fluid to use.

Does this "wobble" just occur during braking, at speed, or anytime?

I would inspect the tie rod ends for looseness, wheels for any defects, and tires for possible shifted/broken belts.

 

under acceleration or braking? or is it a constant wobble?

 

can happen with crappy tire balancing too, though if it doesn't "feel as tight" as it should, i'd tend to think something else.

 

Rack ends (tie rod inners) can wear also. Not difficult to replace, however. They are somewhat weaker than the outer ends.