So you are don’t do the “down low” thingiUp High Near back corner of the hood...... There is no "Right Place", Just dont put it down low.
Tap is 1/8 x 27 I believe.3/8 NPT, sorry i do not have my tap size chart nearby. There should be an unused bung opposite the one with the factory fitting.
The bilge outlet.I think there's some confusion regarding what's being asked... are you asking about where to put the bilge outlet, or where to tap the pump to send cooling water up to the engine (like for a dual cooling setup)?