Looks like a later valve cover. Is there a grommet under the breather cap or a pipe? This setup will work fine, you'll just have to remember that it's a later setup when getting parts for it. The PCV valve will just push into the existing grommet. For a closed crankcase, you'll need the later breather with the hose connection, and a later air cleaner to match, or, if you want, add a hose nipple to your existing air cleaner. I'd tap into it where the air intake for the breather will be filtered air.
