Re: Doing LS Swap - I have no idea what I'm doing!
That looks like the emissions recirc. solenoid. It's a "normally closed" valve, so you can either remove it or leave it in place. Various vendors sell plug kits for the hole, if you remove the valve, or just use a pipe tap(if you have one of that size, I believe it's 1/4npt) and get a pipe plug for the hole.
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