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it dumps the crank case vent to atmosphere..stock set up puts it back into the turbo and into your intercooler..thats why the boots seap oll. I vented mine back toward the rear axle.be sure there are no dips in the line or oil will stop the CCV up...
Plus, as the oil works it's way between the intercooler boots and their flanges, they get to where they don't seal as well, if at all. They can also bow off, too... good boost is pretty important to get the most out of the truck. If you have boost leaks, you have a dog of a truck.
The oil film that ends up inside your IC kills its ability to cool your incoming air.
That's why I blow mine out occasionally. If you know what I mean?
BTW, I have my CCV routed thru a trap back to the stock CCV connector. It doesn't remove all the oil, but helps. My intake air temps at the spider are ~10 degrees or less above ambient with my larger IC.