Steering pump noise..on full lock (which isn't much of a lock) the pump bypass valve squeals. This used to be common on power steering systems, 20 years ago. As long as the fluid level is OK then there is no problem.
When I looked into buying an S1 some time ago I had a long chat with a dealer about the known issues.
I'm almost certain the early cars had a different steering system (pump?) to the later cars and that this was a known problem.
Overall there were two or three items that he said should be addressed if I was considering an S1. The steering was one, unfortunately I can't remember what else !
Mike,
I have wressled with possible future issues with the S1 during ownership of 4 years now, the power steering you mention, my car like Philip's has an original system and at 36K mileage is still going strong. Other areas of concern had been the drive train shunt, I hardly notice this at all now as I use 2nd gear for most pull aways, with so much torgue it is all you need. The final main concern was the start "clicking", In colder damp weather the car would not always start first time. I had batteries changed and starter motor to eliminate this although over time it would come back. The solution I have now found is storing the car in a moisture free garage, I now use a Cair O port, bubble, and so far this winter starts on the button. So after 4 years I have stopped worrying, just look forward to that V8 barking into life every week.