I just changed the oil yesterday on my truck, which currently is using two inline compressed air water separators, you'll be amaized at how well they work. In fact I was surprised that the first pcv trapped a couple teaspoons full of water and the last in series filter captured at least 8 ounces of oil. I will be mounting two on my crossfire next.

edit: try and find one with a built in regulator that will allow you to adjust the airflow.