Noob problem #4. Whack a mole continues.

I was hearing a rattle from the front right side of the car. Jacked it up, looked for the rattle. Tried rolling steering from side to side at the wheels. Engine is off. It has a hard time moving quickly from one end to the other. If I push hard enough to get to the end, there's a swishing noise like a release of built up fluid. If I go it fast enough, it sprays a fine mist of ps fluid out a pin hole in the reservoir cap.

The reservoir has been consistently at the full level for several months, since I got the car. Now it's way up the dipstick. Not down. Up. Fluid still looks bright red. Not dirty.

With the car running steering works okish. Recently it's felt reluctant and groany at either end, which I attributed to old car.

Recent work: today: IPD sport exhaust after axle pipe on original system rusted all the way through at the bend to the back muffler. Rear differential fluid. Partial oil change to check condition. A few weeks ago I was in to do the timing belt and replace harmonic balancer and also replaced the accessory bushings and belts and retensioned. Maybe I did something to the pump? But this is happening with the engine off.

I have an instrument panel from a newer 240 (after losing a battle with the original odometer) and the service light is coming on for the first minute or two of driving then turning off. I reset the service counter and it still happens.

Thoughts?