Hmmm, 16 teeth per rev and 8 teeth per inch on the rack = roughly 2 inches (8 teeth per inch) per rev.
Now you need to know how many pulses you have to send the motor for it to rotate 1 revolution. Your micro steps will be considered in this part. And, you need to know the actual number, not guess and change until it moves one rev. No telling how many steps it skipped moving that one rev when guessing like that.
If your steps per do == 19,000 and your motion device can support the frequency of pulses, then nothing wrong with it. There are lots of systems running higher resolution than 19,000 steps per inch.
Just some numbers for you........
19,000 steps per inch X 12 inches = 228,000 pulses per foot
228,000 X 160 feet per minute = 36,480,000 pulse per minute
36,480,000 \ 60 seconds = 608,000 pulses a second or 608 kHz
Depends on what your using to generate your pulses but some external motion devices can reliable send millions of pulses a second (MHz).
The parallel port tops out at about 50kHz or less in most setups.