As a side effect it picks up small amounts of oil, this is not the intended purpose. Not to mention all cars have pcv valves, it is not a vtec/honda thing. Per http://www.leeric.lsu.edu/bgbb/7/ecep/auto/n/n.htm states:

P.C.V. Valve
Emissions controls were first installed on passenger cars and light trucks in 1962. This first emission control, the P.C.V. valve, is still used on present production vehicles. The acronym P.C.V. stands for Positive Crankcase Ventilation. The valve of this system regulates the flow rate of crankcase blow-by gases into the intake manifold, thus burning these gases again. These gases contain large quantities of unburned hydro-carbons and some carbon monoxide. Flow rate through the valve is inverse to intake manifold vacuum. The higher the vacuum (i.e., at idle and low cruise speeds) the lower the flow rate. At wide open throttle when crankcase blow-by pressure is greatest the P.C.V. flows at the maximum rate (See Figures 1, 1a, 1b, and 1c ). A malfunctioning P.C.V. may result in a hard starting engine, surge at cruise, and hesitation on acceleration. P.C.V. malfunctions lower fuel economy since it is a vacuum device