Thanks guys. Next question, can it just be plugged?
No. You may not plug it.
There is absolutely no reason not to fix it properly. It is a service port, and it is there so that you can conveniently diagnose and troubleshoot your fuel system. Ford calls it a pressure relief valve, but I don't think it works that way.
Any time I see plugged test ports and defeated diagnostic connectors, I immediately assume that the installer is a hack.
Can it be plugged? of course it CAN. Should it be plugged? absolutely not.
You have bleeder ports on your brakes. You CAN plug those too. Or your sewer clean outs. Probably ought to weld those shut.
I might agree with upgrading the schrader valve on the fuel rail with a liquid filled pressure gage. Every time you work on a Ford EFI, the very first thing that goes on is the fuel pressure gage tap. I have cursed FI Tech, and Holley for failing to install a pressure tap on their throttle bodies. I have a special -6AN diagnostic tool to measure fuel pressure real time. Why in the world would you defeat yours?
Ford Motor Company, E0AY-9H321-A Valve Assembly, Pressure Relief. Ebay $13.00
Motorcraft CM3461, Valve. available at amazon for $9.81.
It even comes with the special little cap.
Please fix it correctly.