Most of the v-drive performance boats have the chain, cable and quadrant steering. My guess is it is lighter in weight than other systems, it is pretty basic and simple along with durable. You can also check for wear or defective cable easily. The rack and pinion has a cable inside an outer layer making it impossible to see the inner cable until it breaks. That in itself can become a surprise.
It seems the steering system takes a beating during use. Even though it is not unpleasant when driving you can certainly feel the constant hammering. I always wanted to have one that used a steering box similar to the Vega, that would eliminate much of the torque found in the steering wheel. It only takes money and the time to engineer the system.