the only reason to get rid of it is space and cleanliness. It is there to take the pressure built up in the fuel tank from gas vapor, and sort of filter them and allow them to go into the engine at some point. You don't want to cap off the vent from the tank, but you also don't want to leave it open really because you will get a gas smell sometimes...
with that said... I have mine uncapped. I don't necessarily recommend you do the same thing. Its technically illegal (comprimised vehicle emissions system).
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'15 Juke Nismo
'06 MX-5 GT SOLD
'04 S Silver RX-8 GT Track Day Use SOLD
'90 Black TII vert w/ Sprint RE stock port/turbo DD dyno (242.6whp@5500rpm @12psi 8psi@redline) and (250ftlbtq@4800rpm @13psi) SOLD
'89 GTUs 6p TII SOLD, '87 sport SOLD, '79 SA stock SOLD
'91 B2600i 4x4 w/ Rx-8 LSD SOLD
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