As long as you're sure the servo isn't drawing more than 1 amp, it would work fine. The LM7806 does have thermal shutdown protection, so even if you did pull too much current, the worst that would happen is that you'd lose steering for a few seconds while it cooled down. If this happens, you can improve it's power handling capabilities by attaching some kind of heatsink. The datasheet is here:
http://www.datasheetcatalog.org/data...0/54086_DS.pdf