My 96 4 cylinder honda accord spitting out oil due to spool valve. The dealer quoted me ~$490 parts and labor to replace it.

I know dealer generally charge more, but is $490 way too much for the job?

Thanks

EDIT: and they said there is a crack/problem with the catalytic converter that's making the exhaust really loud. Does it urgent replacement, or is it just more of an loud exhaust annoyance should I choose not to repair it?

 

If ur car has less than 150k miles then you should check the extended emission warranty.

 

I've been working on cars for a while now, but I honestly have never heard of a spool valve. I'm not saying there isn't such a thing, but i'm curious to know what it is so in the future I don't sound stupid when someone asks me to change their spool valve. Is it just a new name for the p.c.v. valve?