The only time it would matter is when you have an early MK I column as the canceling peg for the turn signals is drilled and located on the shaft the later plastic ones don't have that issue.
I bought a column for a mini and the end clamp was welded on in the wrong position so the steering lock did not line up when the wheels were straight, there is no consistency in parts nowadays.
The best racks (but no the safest) are the ones that are notched all the way around as you can position the column wherever you want to.

I am surprised you were able to dremel the shaft as when all the column splines fail the rack is always good so i assumed they were hardened.

Steve, Can you go into further details  of what you did. Mine was new out of the box also. Must have been the same guy building the rack. I Did not open the centering screw. I just eyeballed the positioning of the rack on the mini body and turned the wheel 2.7 turns each side and then halved the amount of turns to get my positioning which put the notch on top.Haynes book shoed it should have been on the bottom. Another member said it doesn't matter. I am just trying to understand it all.

I recently installed a rack ( new out of the box ) and before installing I noticed the notch in pinion was 180 degrees from where I expected. I removed it rotated with a drill bit in the centering hole and reassembled. We have reached a point where everything we buy must be inspected and often adjusted before assembly. Steve (CTR)

Lee,

I have to say that I was concerned about everything. This is my first steering rack replacement and won't be my last. I know the steering wheel can be repositioned. I remember or think I remember there was holes in the steering column for studs for the turn signal cancellation. This is a late 92 model. The haynes manual had the clamping bolt at the bottom. The steering rack that I took out was at the 2 and 8 o'clock position. 

Lee, Without someone like you around saying it doesn't matter, is comforting.

I'm not 100% clear on whether you are concerned that the indicator cancelling mechanism is on the wrong place or the steering wheel is not straight?

Either way it does not matter. If the wheel is your concern get wheel alignment done then remove and re-centre the steering wheel.

Does not matter where the cancelling mechanism is. You would normally be rotating the wheel more than 360 degrees so it's always going to clip the prongs on the switch as you turn the wheel back.

I've quite literally fitted dozens of racks and never had to give a thought to position of clamp.

I did notch it using a dremel tool and a cutting/abrasive wheel. Not hardened steel. I did it in situ as rack was in place. I will look at the turn signal cancelling stuff at a later date.

Did you center the rack by using the hole in the passenger floor then removing the plug and put a drift or similar in there until you find the hole and it is centered?

The rack spline is probably hardened steel so it would be hard or impossible to notch it.

I may be wrong but if it is a late model car you are working on is it that crucial as the plastic turn signal cancelling piece can be moved unlike the early cars, of course your steering lock cut out will be out of position but still work once the wheel is turned.

Thanks Mike. Thought of that. Tested , when turning steering wheel to right, the right side of rack goes in.

wrong sided rack???

I am replacing a standard RHD steering rack.
I've lined up everything. measuring everything. Full turns to the left and right and then dividing by half.
The problem is the bolt notch is 180 degrees out. It's on top vs the bottom where it should be.

Can anyone chime in here.

My plan is to notch the bottom of the steering rack spline so the steering column hole is where it should be according to the haynes manual.