Does the oil-steam pipe (I'm not sure what you would call it) that goes from the top of the engine to the airfilter box have any mission, except letting the hot oil damp out?

The reason why I ask is simple..This air/steam/damp that comes out in the air filter box heats up the air that goes into the KE-jetronic system, (including messing up the air filter)
I wonder what would happen if I redirected this pipe to another place, maybe through a filter, just letting it out elsewhere, and by that getting cooler air into the engine..
I also had in mind rebuilding the air intake, so the engine could breathe more easily..


By doing this I maybe gain a few kW, and/or get a lower consume of gasoline..(I live in Norway! We pay appr. 5-6$ a gallon!!!

I would appriciate every reply



Eivind Soltvedt