Is this an acceptable PCV alternative?

All;
I have seen PCV systems in the past installed as in the following diagram.
Does this work? Would not the vac created in the air cleaner pull clean air through the crankcase?
I am trying to decide which way to go with the PCV system.
If this is not acceptable, what OEM PCV should I use in a complete system with the following motor?
I cannot afford the high dollar adjustable PCV but want it to work as a system.
318+.030
Comp XE268H
Eddy Air Gap, Eddy 650
I get about 14-15" vac at idle.

PCV option #1.jpg