Otto, the valve is mounted at the top of the existing road draft tube so it’s 6-8 inches higher than the crankcase.
Time and use will tell. I'm pretty sure there's a thread around here somewhere in which the poster describes the same conversion as Craig's with the valve on top of the tube and experienced significant oil loss.
The valve is still at crankcase level rather than at head level. Every engine with a factory designed and installed pcv system has the valve located at the top of the engine in the head.
