Just has a similar problem. The bracket from the P/S cooler got bent up into the condensor and wore a hole in it. There was a yellow/green gook coming out of the hole. The A/C compressor short-cycled, and did not blow cold air.
Ford service quoted me ~$600!!! ($250 for the part and 4.5 hours of labor)
A local radiator/AC shop did it for $300. The replacement part was identical to the old one (didn't look any cheaper or anything).
A big reason Ford says it takes so much labor is that the radiator, condensor and the fans all drop down as one unit [on my 99, anyway], which is a bit of a PITA.
