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It's a drain plug for the block coolant passages. IIRC, there isn't one on the engine front side, as the ****** for the oil cooler coolant loop serves the same purpose.
ditto on not putting the a temp sender there. thats at the bottom of the cylinder, the temps down there don't have the relevance of head or upper cylinder temperatures. 14mm if I recall correctly

Will a T give accurate readings if the probe isnt directly in the stream of coolant?
Also.. when doing a coolant flush... you should remove those, and flush the ENTIRE motor. Something most people never do.
