I purchased a 66mm bored B16 tb so that I can swap out my OBD1 GSR TB. In the picture below, can anyone tell me what the part that is circled is....and do I need it?

I also switched to the Skunk2 mani, so I am not using the IAB and sencondary butterflies.

 

I you'll be ok. My throttle body doesn't have that thing onthe bottom.
Where did you get your bored out Throttle body?

 

That appears to be the FITV. Fast Idle Thermo Valve. Newer throttle bodies don't have that valve- it is built in to the throttle body.

 

Isn't that the thing that some people do the coolant bypass mod on?