Power Steering Hoses Leak? HELP!

Hey guys.
First, let me introduce myself. Im not sure if anyone here remembers EVERYSHADEOFBLUE (Jeffrey) or not.. Im the one that purchased his car. I dont post on here very much, but it's not that I dont like it here, it's just that Im always busy!
Im the founder of the Ultimate Subaru Website/Message Board, (Www.ultimatesubaru.net) Im normally over there alot, but not many people there have SVX's. ..
Anyways...
This car runs great and has no problems, until lately. After driving it in exess of 5 minutes, the power steering is low, has a binding feel (probably due to low power steering), The check engine light comes on, and it smokes.. BAD!
I think, and have probably narrowed it down to the following symptom.... Tell me if this is common, or maybe if I have diagnosed this wrong..

I BELIEVE that the hose coming from the power steering pump, and going to the back of the engine, on the passenger side, is leaking at the fitting (rear). I think that this leak is what causes it to lose power steering fluid, which causes the bind... also, the power steering fluid drops on the exhaust (Causing smoke) and onto the 02 sensor.. (Setting off the check engine light).

Now if I pinned it correctly, Im glad. I hate to see this SVX just sitting here... if you guys think of something else, let me know, please! I dont know if this is a common problem or not, so anyone with any knowledge of this or a similar problem please let me know! Thanks!!!
Billy


P.S.- Anyone notice how ALL subaru communities are always there with open arms?... Try going to a *Car Make Here* Forum. I strongly believe that Subaru forums are by far the best..