I haven't seen any schematics showing the routing, but I believe the crank case breather (PCV) tube for the 350F just goes to the intake plenum box. As long as you aren't blowing a lot of oil through that breather tube, you shouldn't have an issue. The concept is to catch the poorly combusted gases that blow past the piston and into the crankcase. By redirecting those gases back into the intake, you give the engine a second shot at fully combusting them into CO2 and H2O.
One benefit from hooking the breather up is that you will help pull a vacuum on the crankcase (or at least decrease the positive pressure in it). That will show up as better top range power and smoother high rpms.
The comment above about a decrease in power does hold some truth, but the real decrease in power comes from EGR (exhaust gas recirculation). EGR came about to lower combustion temperatures to decrease the liklihood of NO2 production (which really kicks off above 1800F or so). EGR actually improves efficiency, but decreases power by adding gases (CO2 and H2O) that are essentially inert for the combustion reaction we have in our engines. So, when you hear about EGR and PCV, the real culprit for power reduction is EGR, and even it is not very much.
Camelman