Now let's just say if one were to remove the belt driven power steering pump to free up a few ponies by going with an electric steering pump would you really be an idiot? Typically if you remove drag from the crank by removing the PS pump, or even the hydo pump to electric fans (5-10whp), A/C (7whp when in use) could you just be desperate for a few extra ponies and maybe not an idiot? You probably will gain a few ponies with the electric PS swap.... Belt drag off the crank is real power loss...
Yes, flat out, if you are doing it for HP saving, you are an idiot.
To free up room, its a damn good idea.
Next time you have accessories belt off, turn the PS pump by hand.
See how freely it turns? Thats how much HP it 'sucks' while driving in a straight line. Check the AC too, you'll find its the same.
The PS pump only sucks HP when you turn. the more load (ie, parking the car) the more HP it sucks. Last I checked I wasn't worried about saving HP in a carpark.
Now lets assume you put on an electric pump.
The power for that pump comes from the battery.
The battery is charged by the alternator
The alternator is driven by, oh my, you guessed it, the CRANK!
Now lets take a leap of faith here and assume that the efficiencies of an electric PS pump and mechanical PS pump are similar (in terms of ability to pump X volume of oil).
So, lets assume the pumps draw say 5hp.
The mechanical pump will draw 5hp.
The electrical pump will draw 5hp too. But, like most electric motors, its probably only 80% efficient (in converting electrical power to mechanical power). so that 5hp output is drawing a 6.25hp load on the battery.
Now, that battery power comes from the alternator, which inturn is probably only 80% efficient at turning mechanical power into electrical power.
So that 6.25hp is really 7.8hp.
So your 5hp electric pump is 'sucking' up to 8hp at full load.
The exact same principle applies to electric water pumps.
With today's designs in water pumps, fans, ps pumps, etc, there is very little to be gained by converting to electric. For the most part electric pumps are used for reasons that do not involve hp 'saving'.
They are used for space saving, weight saving in extreme circumstances, because they suit the application better (eg. EWP's in burnout cars)
If you go back to the 70's where designs weren't as efficient, then you may very well see further gains.