That is a sham. That's a 5 dollar air compressor oil seperator that they're trying to sell you for 40 bucks. That's not a catch can. While that filter works great the "catch" area is not big enough, so once that little plastic reservoir fills up, the rest of the oil keeps on going into the intake.
You need a catch tank that has more volume to be effective. I know this because I tried an easy set up like that on my old Cobra, and it didnt work for shit.
Dont waste your money, there's plenty of viable solutions out there for PCV catch cans.
Here's a very nicely designed and useful. But they market them to vette owners, so you know it aint cheap!
http://www.eliteengineeringusa.com/C6Catch_Can.html