I'm pretty sure you can even buy non-Motorcraft replacements at pretty much any auto parts store. It's a standard part(s), more or less.
It's likely that if the thread starter didn't know what it was, that the originals on his car have not been changed in a while and should probably not be reused.
The pros of an open breather system is simplicity and clean looks. The cons is that they can sometimes drip oil, and the unburnt vapors they release is harmful to the environment. *tree hugger moment*
The PCV system is good, in that it pulls the vapors back into the engine and burns them off. It also acts as a somewhat constant vacuum to actively clear the vapors from the crankcase. An open breather just kind of lets it "seep" out as it is needed. The problem is that the stock Ford PCV system is really inadequate for a high performance build, and an unmaintained system can lead to slowly burning oil. A cheap solution is to add a secondary PCV valve location, such as the driver's side valve cover. The problem there is that you end up with a snake pit of vacuum lines.
NEVER mix a PCV system with an open breather system. This causes vacuum leaks. Common rookie mistake.
I have no oil Control issues. I run the PCV straight to the upper intake plenum. Then i have each valve cover connected to a T fitting which connects to the intake pipe before the throttle body. I have zero problems evacuating gasses properly and 2 years later my valve covers are clean inside and so are the heads (no brown residue)