just wondering what this is on the back of my newage power steering pump ? looks like a vac pipe nipple but not sure really but been like this for a year now and steerings always been fine

 

Looking at the manuals it seems to be in the same place as the relief valve. I suspect it's a bleed nipple, and there should be a rubber hose on it to stop power steering fluid spewing all over your block, hence it being so clean.