Not to worry, Surf, keep the catch-can there.. UCL can go in via your gas tank through the injectors.
In my car, the pcv dumps into the boot about 4 inches ahead of the throttle body. I can't imagine getting any UCL from this...stuff.
Can't imagine any horsepower gain either, except maybe 60 or 80K down the road, owing to a cleaner throttle body than you'd have without a catch-can. The HP claims are B*S, far as I can see. It isn't a "condensator" in any case, it's a separator. I don't know the engineering principle behind it, but someone will come along to explain it I hope. The PCV gasses make the turn through the can, the goo doesn't. Not sure that's really condensation.
Mine is the same as yours no doubt, Husky compressor filter. I got rid of the little element (it's kinda like a filter-stone for an aquarium pump), and let the gases dump into the can through the end of the stem from the filter inlet, and the exit from the can is at the very top. It has a little tire-valve at the botton to drain with. The stuff goes in, dumps the crud in the bottom, does and about-face and goes right out the top.
I collect and dump 3-5 oz a month (i do a lot of driving, probably 4K/month). It's nasty. Oily, sure, but kinda fuelish stinking and smells a little acidic even. It has to be better to not be putting this stuff into the throttle body.
My 2 cents, your mileage, as always, may vary!