Jon, that's a very well-engineered installation. It puts the PCV valve high enough above the crankcase that there's no danger of pulling liquid oil into the intake, only vapors. That extra nipple on the PCV could be used to operate a vacuum gauge on the dash, since it's getting full manifold vacuum. It's a real education, watching how small an increase in throttle position it takes to open up the power valve in a carburetor- - - - -"Goodbye, gas mieage!"- - - - -especially with an OD transmission onboard!
Jerry