Yep, I wouldn't gut it though. You can use the road as your oil catch can but it's generally frowned on by the authorities.
Pipe it off somewhere so as it doesn't throw oil on your wheels or exhaust.
At you own risk I'd say from a legal viewpoint.
by all means gut ur pcv , u can do it in 15seconds and run both lines into some sort of catch,
if you dont, crankcase pressure will build on blow by for example on idle and force oil upwards , causing white smoke and oil to come through the breather line.,
plus by increasing the pressure differential above and below the rings result in a better seal and a power increase.
dont have a catch can for now. maybe filters on both ends will do?