Oh yeah, the hose won't hurt anything at all. Your engine will be burning all those oil fumes, so it'll run a bit 'dirtier' inside, but every Honda ever made has had a PCV like that, so clearly reliability is not an issue..... It's SUPPOSED to suck oil vapors back, that's the point. Just not too much vapor. Too much oil is bad, but that only happens with a crappy valve or crappy design (like an Escort or Mustang).

As I said, there's no real need to remove it, unless you (a) just like the looks of the breather, (b) have an *extremely* built, high-performance engine, or (c) are generally fanatical.

Just make sure the intake tube is sealed, either with the hose or by you.