looks like a vent pipe. iirc the float and diaphram vents link all together and then linked into the air filter so everything responds correctly for forward faceing air intakes (ram air) and all the fuel vapors get burnt in the engine.
for a carb conversion all you need to do is make sure its not blocked off and dirt cant get in.
as for carbs on your cvh i cant see any probs, jetting will need to be sorted as for any carb and if you are running megajolt or simmular a tps would be a good idea
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