Theres a "wet hissing" (???) noise coming from directly behind the power steer reservoir. Its not a rotating noise, but constant...Anyone had this problem?

Seems to be getting louder.... should i tighten the nut holding the hose on? There doesnt seem to be any fluid loss or steering problems?

I think you should tighten it up...there is no harm to tighten it up

if fluid starts to come out...a fire might start while you cruise down the street.

phong =P~

Get a liquid silicone spray can, and spray it over the belts just infront of the power steering reservoir.
Usually does the trick. If not, im thinking of something else then :p
Let us know if its that but hehe.