Jncomutt is right.
#1 is the fulcrum point for the thermac valve. There's supposed to be a metal rod inside. If you can see through that hole and out the other side, then the "flapper" may have been removed.
#2 (the thermac valve) can be tested with a vacuum pump, or with a cold engine and a little patience. Either way, disconnect the intake hose from the air cleaner box so you can see the flapper inside. When you apply vacuum, the flapper should move. Or, after you start the engine and it starts to warm up, the flapper should drop.
Also, keep in mind that there's a thermostatic valve inside the air cleaner box that controls the vacuum going to the thermac valve. It isn't hard to find. The vacuum line from the thermac valve goes into it (assuming the vacuum line is present). If you remove the top of the air cleaner box, you'll see it in there. It sort of resembles a tiny scissor jack with a spring in the middle.
#3 is the breather filter (part of the PCV system). If it's gunked up, you should replace it. Parts stores should carry them. They only cost a few bucks.
To be honest, I'm not sure what sources are available for the thermac valve. You might have to scavenge one from a boneyard. There are several GM cars that used the same intake system , so you're not limited to just Fieros.
[This message has been edited by Blacktree (edited 05-23-2005).]