I looked at two different complete motors from ~73-74. One was a 400 and other was a 440. Neither quite matched what you have, nor did they quite match each other. They are indeed vacuum valves. They change port valving based on water temp. Yet one of mine had the temperature sensor there just like Beanhead said. One I looked at went to an electric solenoid by the back corner of the Thermoquad, and another port went directly to the vacuum advance on the distributor and the other port went back to the manifold tee ftg at the back of the intake. The only way to be sure is look at the emissions sticker, or the diagram in the service manual. I have the diagram for a '72 400 here, so ill have a peek at it and then repost. HTH, Lefty71