Welcome and glad you joined us.
The 2nd gens have a pronounced clunk in the steering column when rattling over bumps and uneven terrain. Subaru introduced a tech bulletin about this, there's an actual part that gets replaced to "dampen" the noise, but it's really an issue with the power steering relief valve reacting to pressure changes due to the bump. Nothing to be concerned about if not "fixed", just irritating.
However, I would check the steering rack itself to make sure it's not somehow come loose in its mounts. That would cause clunking and lousy handling, even with every bushing and link in perfect shape, and the rest of the suspension equally good.
Any potential issues with the wheel bearings?
Hope it all works out. Personally loved our 30th Anniversay L Wagon. Great 2nd gen example and no issues through 130K miles - may it RIP.
- Pro dilectione Dei et patriam -