Need more description. A hole in the radiator is never good, and a slow leak like that can easily lead to an overheat, which in turn can lead to a blown head/engine. The fact that the noise seems worse at low RPM does seem to be more indicative of a vacuum issue. I'd ask if you hear any hissing noises, but with a holed radiator, you'll likely hear a hiss even without a vacuum leak.
Get that radiator fixed!
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