Whether there's an old style valve in the crankcase breather hose or not, all modern engines require a Positive Crankcase Valve (PCV) system to control emissions. You cannot allow positive crankcase pressure waves to chuff into the atmosphere (containing hydrocarbons). Modern engine design incorporates the PCV into the valve cover or intake manifold design. These are sophisticated designs that create air/oil separation before routing the gases into the intake, but like all engineering endeavors they don't always work in the real world as the appear on paper.
I'm not saying there's a flaw in the Vortec 8.1 breather, just saying. Early Vortecs were known to have an issue with the intake manifold gaskets (there's a Technical Bulletin) that can cause oil consumption, but it was addressed with different gaskets and bolts IIRC,