A week ago I noticed a steering-related groan coming from my 1990 2.2L 5SFE Celica. The noise is coming from the front right passenger side. A few searches on TN indicated that my power steering pump is probably the source of the groan. I checked the PS fluid level - it was fine. That was a week ago.
Did not have time to really diagnose the problem until last night. I popped the hood and found that the power steering had run bone dry

and upon closer inspection I found that the high pressure hose is leaking badly.
Question 1: is it likely I've also killed the power steering pump by running it dry for a couple days? The steering still functions fine, it's just noisy. When the engine is warm, the noise is nearly impossible to hear.
Question 2: Over the last year, little things have started to die one after the other on my 15 year old car (hoses, radiator, seals, etc). I've been replacing a part about every 4 months. I'm wondering if I fork over the cash to replace this hose, what other things I'll be dealing with a few months from now? It's getting expensive to keep my Celly, maybe I should just fill the PS reservoir and give it to charity, or sell it? Thoughts?
Here's what I've replaced in the last year:
- Radiator, upper/lower hoses ($240)
- Valve cover seal was leaking oil ($90)
- Tune up - all plugs, wires, dist, fuel filter ($220)
- Power antannae died - ($15 for fixed mast)