I went through this about 2 months ago on my '88 103 engine. That pump went about 240,000 miles. It started leaking all of a sudden. It was dribbling from the pan rail just behind the a/c compressor. It was also dribbling on the sway bar.
As Steve said, it's virtually impossible to see the weep hole. It is almost as seemingly impossible to replace the pump. I had recently bought a 1/4" drive mini air ratchet. It sure was handy for running a few of the difficult to reach bolts. I did not have the special Snap On FLXM13 universal joint that allows you to replace the pump without getting the tensioner and power steering pump out of the way.
I checked on the Snap On site and they were out of stock. If I had it to do over again and I could get the Snap On tool, I would have paid the $48 or so for it even though money is very tight for me right now.
Put grease on the o-ring to keep it in place in the pump while putting the pump in position.