Mike,
You should have a hole there, as I think all ERA's are set up that way.
The clips are indeed just cable clips.
I did not bleed air out of the line and can't recall any instructions that said to do so, but now that you mention it, it seems like a good idea. Nevertheless, my gauge seems to be responding fine.
Good-luck and by the way, you have a great looking car!
I've had mine on the road for a couple of weeks and it is a blast to drive. You've got to be prepared to do the "stop and chat", however. Lot's of questions, but that is part of the fun.
