On your breather setup - I would leave as is with your original hole on the side of the block covered. Ford's original design was for air to enter at the oil filler cap and then be sucked out the road draft tube as you rolled down the highway. Everything open to the air of course and with very little vacuum to actually suck fumes and block pressure out of the crankcase. With what I saw in your video, your air to clean out the crankcase is now flowing from your valve cover breather and now essentially being sucked out of the oil fill tube via your oil fill cap and the fumes burned by going back through your carb throat and into the intake manifold. If it were me, I would run it for a couple thousand miles like that and see what the results are. Like Miker said, you may want to read the whole PCV thread. Essentially what you have is not as optimal as some of those options discussed but you do have a system that is a tick better than what Ford had originally on the engine.
If it ain't broke, don't fix it.
Daniel JessupLancaster, California
aka "The Hot Rod Reverend" 
check out the 1955 Ford Fairlane build at www.hotrodreverend.com