the blow off valve has a hose that goes to the intake. Do you need that hose.
if you want it to operate properly the yes you will need it. The valves are also adustable but you need a tech manual to and special tool to do it propperly dont just guess at its setting rather know it. I assume the picture i looked at was your engine. Unless you like taking chaces i would recomend you put your timing belt cover back in place. If anything should get in there between your t-belt and gears or pullys the belt could be damaged and if it does get damaged you could damage the valves in the event of t-belt failure. I know people like to see the belt and gears moving and if that is what you are wanting i would suggest installing one of the clear t-belt covers that are available. unfortunatly i do not know who makes them. if you cant find out go to a car show and talk to gear heads that have them on there cars.