if this weep hole works how i tihnk it does, then isnt it an emergency pressure releas ethat closes up once the pressure subsides?

Nope. It means that the bladder in the water pump has ruptured and that your water pump is history. Why don't you refill the radiator with water, run the engine and try to see where the water is leaking out from?

well thats the thing, the leak has stopped, it looks like i lost about a pint based on the resivoir, but it hasnt lost anymore since... odd

There is no bladder in a water pump.

Pump seals when failed tend to leak when the car is cold and when the pressure and heat builds it seals back up.
Was the puddle near the pass front wheel? Thats also where the coolant elbow is located but I doubt it would seal back up.

It'* what the old timers refer to it as being the impellar shaft seal. Probably before your time.

Well, I'm from the days of "electronic fuel injection"...them garsh darn fuel pumps! They just don't build em like they used too!

well this leak wa shappeneing while the car was hot, i was pushing it pretty hard, but normal driving, no leak at all

"Doc, it hurts when I do this"....."Doc", then don't do that.

Seriously, it sounds like one of those leaks that only shows itself when the temp and pressure are right. They can be hard to find. I suggested a coolant dye and my suggestion gets rejected, so I don't know? Maybe a crystal ball will tell you where the leak is?

I'm from the days of Carter AFB and Mallory duel point.