So what options do I have with this ugly looking thing under the hood? Is there any other alturnative like a breather ontop on the tank or do I just deal with it?
It does not weigh but a pound or so and helps richen up the cruse mixture. It draws no HP & keeps the car from smelling like gasoline in a closed garage. So with all these good things and no bad ones, why not hook it up & use it?
Charcoal canister plumbing - one 3/8" tube from the bottom of the upper manifold to the rubber hose. Rubber hose connects to one side of the canister solenoid valve. Other side of the solenoid valve connects to one side of the canister. The other side of the canister connects to a rubber hose that connects to a line that goes all the way back to the gas tank. There is an electrical connector coming from the passenger side injector harness near #1 injector that plugs into the canister solenoid valve. It's purpose is to vent the gas tank. The solenoid valve opens at cruse to provide some extra fuel to richen up the cruse mixture.
Keep it. Like jrichker said there are more benefits keeping it than ditching it. If you don't like how it looks lots of guys swap them to the other side of the frame rail and then it is out of site.