The purpose of a breather box is misconstrued. It is not a "Breather", per se, but is, in reality, an oil separator. It is supposed to allow the oil suspended in crankcase gases to attach to the walls and internals of the breather box or can or whatever, condense and then drain back down into the case. Given that, there have been a number of different ways of achieving this.
In the heyday of 356/550 racing, the most popular was a large Hi-C can mounted about even with, or slightly lower than the carbs and plumbed to the oil filler tube and then uphill to the top of the carb(s) air filter cover. Often the can had several "Chore-Boy" scouring pads stuffed inside to facilitate oil cling or "pooling" to then get the oil back to the case. This worked very well but didn't look "cool", especially for the 550 crowd - it was a big, naked can, after all. So someone came up with the 550-version. This is a 24" aluminum cylinder about 2"-3" in diameter which had a series of baffles inside to facilitate condensation. It worked well, looked really cool and cost big bucks, compared to the Hi-C can. After that, several different variations arrived, none of them as good as the aforementioned aluminum cylinder (or Hi-C can either, for that matter) but they are available and that's what we use.
A properly designed and installed breather/oil separator should insure that the crankcase gases arriving at the air cleaner have almost no oil left and just air entering the carb. It should be mounted slightly below the level of the output hoses entering the air cleaner to insure proper drain-back.
So, to Kelly's query:
JPS does not believe in the extra vent hosing. One line from the oil filler inlet stack to the air filter/carb and that is it, unless you specifically ask for it. John says the extra lines not needed; one line to vent the crank case isgood enough, he says.
John hasn't looked at many racing 356's I think. Even a lot of later (1960's) Porsches came with the factory version of the Hi-C can, complete with internal baffles and Gene Berg sold a very Porsche-like Breather Box that replaced the filler neck and plumbed into the carb(s). Covered his bases both ways.
I have a 2332 from JPS plumbed that way, and it seems to be fine. Might be better w/ extra lines from valve covers, but how do you tell?
If it's blowing oil out of the oil filler (or if you remove the cover and can feel positive air pressure coming out of the tube), getting oil-wet around the crankshaft pulley, especially during extended, high-rpm runs or has chronic leaking/weeping around the valve cover gaskets that new gaskets don't help, chances are you've got excessive case pressure. The valve covers already vent through the pushrod tubes - more venting there won't help.
How good is good enough? A little oil vapor condenses on the air filter and the bottom of the holder frame, and has to be wiped clean once in a while.
If you can see oil inside of the air cleaner, then your "breather" is not separating enough oil vapor from the gas and it's letting it pass through the breather to the carbs.
My only concern would be how do the crank case vapors affect the carburetion on the side that takes them in. perhaps using a Bug Pack or other vapor/oil seperator that ends up venting to the atmosphere would be a better deal, although not especially good wrt air polution, perhaps.
Remember! The breather is supposed to separate the oil from the air and drain it back to the case!