Yes, your engine needs a PCV valve.
It "draws" fresh air through a breather element (small filter inside air filter housing) and pulls combustion
bypass gasses (HC, hydrocarbons) and condensation from inside the engine crankcase.
This will increase the longevity of the oil in your engine by removing unwanted and unburnt fuel from the oil. The PCV valve should be connected to a vacuum source under the carb rather than in an intake runner like the vacuum source for the power brake booster.
When I installed a Holley on my truck the carb did not have a fitting to provide a vacuum source for the PCV valve so this is what I did.
I drilled a hole in the back of this spacer and cut the two slots in the throttle bores of the spacer to provide vacuum to the hole for the PCV valve.
I then took float bowl vent tube out of the float bowl of a factory Holley for a 84 460 (any type of fitting will work I just had quite a few of these) and glued it into place.
With the carb and spacer installed you can see the fitting. You can also see the vacuum hose for the power brake booster.
Here it is finished.
Ford first used a PCV valve in 1961. Previously they used a "road draft tube" as mentioned before. The reason for the road draft tube was as the vehicle traveled down the road the air passing the tube created a low pressure and fresh air wound go through a wire mesh filter inside the oil filler cap and provide the same function as a PCV system does.