What is this called and It's purpose?

[Overdrive]

Ladrovered got it, it's a part that's nonexistent on a 97, not sure if they started doing it in 98...kind of a double edged sword, because you'll likely hit it with your knee like he said, but if you don't have it you're stuck dropping your manual into one of the map pockets on the doors or putting it in the pocket where you're supposed to store your wind deflector.

EDIT: BTW, john, be careful with that brake pedal cover, those things have 0% grip when your foot is wet. You may want to put some grip tape on it in a few spots.