Whatever it was, it was optional as expressed by the dashed wire on the schematic. Do you have the accessories listings for '70? The only thing in the listings I can find is "Rear light monitoring system" but that wasn't listed for '69 or '71, so it appears to be a 1 year only thing and I do not have access to the full '70 service manual electrical to see if it's listed there. I presume it'd be like the higher end Buicks and Cadillacs that had indicators to let you know if a rear tail light was out, but I've never seen one on a Pontiac before.
The headlight delay ('70 only as well) I'm sure had it's own box to control everything and could have been taken off of this point as well, although this wire activates when the parking lights are turned on, not just the headlights.
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