In the picture you can see that on the very top of the pedal there's a piece that sticks up. It has the hole in it. It has a small slit in it also. What's its purpose? Is that where a spring would go? Thank you.

that is for the cable on the hand throttle set up.

I believe you are referring to the connection point for the throttle control cable that some (not many) early 240Z'z had.

There is also a cable housing attachment point on the lower right of the dash/pedalbox support on early cars.

The accelerator pedal on my 7/70 has this.

 

While some cars had these features, most did not have the cable and corresponding lever at the console to make it a complete operable system as it was usually removed, if originally equipped, in response to safety concerns. I don't know for sure, but I have read this was usually removed on the  few cars that were imported into the USA with the complete system.

The use of the throttle feature allowed for setting the engine speed higher without the use of the choke, as in faster warm-up in cold weather, or depressing the pedal (un-attended operation).

 

Mike B., of our membership,is an owner of one of the cars that has this completely intact.

Thank you

Have this on my Fairlady Z-L

The combo handle setup looks like this.

 

http://www.240zrubberparts.com/apps/webstore/products/show/4818298