I recommend conversion. It saves your crankcase. With a PCV you always have the vapors being scavenged and it helps keep the oil free of moisture and aromatic contaminates. Since the crankcase is under partial vacuum instead of pressure the contaminates in the oil boil off faster. You also don't cause a stink behind you. It costs nothing but the parts, and its benifits out weigh the drawbacks (none).

You can use a modern PCV valve. Try one from a similar size engine, like a Jeep 4.0L or a Chevy 4.3L. Cut off the road draft tube leaving the top part, fill the hole, and get a rubber grommet the size of the PCV valve to fit. Install it in the hole. Run a vacuum rated hose over to the intake and tee it into where the vacuum wiper hookup is. If you have a vented valve cover replace it with a regular one but use one of the vented caps or drill a hole in the valve cover for a hose to the air cleaner. Start it up. You may need to richen the idle mixture a little bit but other than that you are done.

The reason you use the road draft tube parts is because there is a baffle to keep splashed oil in the engine. If you run it to the valve cover you will suck oil up into the PCV system and have problems.

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