Wow.. I was trying to illustrate a concept, not necessarily the absolute best method of execution of said concept. Since I replaced the factory air cleaner box with a cone filter, AND didn't add a port for the PCV vent to my home-made adapter pipe, I chose to use the mini cone filter. If nothing else, it acts as a wick to keep the oil from dumping on the engine. Under normal driving conditions, the amount of blow-by is small enough to be drawn out by the CCV (PCV) valve into the intake charge, while still maintaining an effective level of vacuum on the crankcase. It would only be under extreme throttle conditions where the manifold vacuum was so low, AND the crankcase pressures caused by blow-by were so high, that the vacuum CCV set-up (my method of execution) would become overwhelmed. Thus in a racing condition where most of the time is spent at or near WOT, this configuration would prove inadequate.
With the vacuum regulator, it restricts flow in one direction to cause a constant vacuum; bleeding (filtered) ambient air to balance the vacuum level. When crankcase pressures become positive -- above atmospheric pressure -- that first method left nowhere for the pressures to flow. Hence, I replaced the vacuum regulator with a power brake booster check valve. Check valves require a minimal amount of pressure to overcome the flap pressure. The brake booster check valve needs very little pressure to open.
What is happening in MY engine, with THIS configuration is under normal driving conditions, the blow-by volume is less than the flow potential offered by the CCV circuit. Hence, there is a vacuum on the crankcase. When I accelerate normally, the relationship between CCV flow and blow-by remain such that there should still be a slight vacuum on the crankcase. When I pounce on the go-fast-pedal, the crankcase pressures can overwhelm the CCV circuit and create a positive pressure in the crankcase. This is when the brake booster check valve opens venting that pressure. As pointed out, it would ideally be vented to the air filter housing (which I no longer have) and be recycled into the intake charge.
I hope this helps.