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Join Date: May 2012
Location: Littleton, CO
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I'm fairly new to my `03 7.3 Diesel EX - but from what I've learned so far, it sounds like you have a bad pump.
It should be on the drivers side - in the middle - just to your right (if facing it
from the front) of the water pump.
The pump is also used as a hyrdo-boost for your brakes - which is why if the
steering pump goes out - you loose some of the brake assist.
There's only 1 o-ring that seals the resevoir to the pump, and if that seal goes
or the resevoir bolts work loose - you'll drip like a fiend and it'll do exactly what you mentioned.
I'll see if I can't snap a pic of mine to help you out.
2003 EX, 7.3L 4inch Lift, Nitto Trail Grappler's, KMC XD Spy's
k Miles, Currently 605tq, 312hp