I installed one on my 54. What I have done is: Close the vents on the valve cover. Drill a hole in the cover for a PCV Valve gromment. I ran a hose from there to the wiper vaccumm port and used a tee fitting so the wipers still work (they have never worked well). Then I wanted to leave the draft tube cause it looks cool so I plugged the bottom of the tube with a freeze plug. Then installed a breather oil cap. The last thing is to adjust the carb. The motor needs fresh air to breath properly thats why the breather oil cap.
I have only driven 70 or so miles since this was completed but have not had any problems so far.
Steve