With current production engines, separating oil and air at the crankcase breather is becoming a serious issue, due to emissions regulations. In the old days, with PCV valves, the crankcase vapors were routed to the intake manifold and burned in the engine. Nowdays, this is unacceptable, as it causes high HC emissions. So separating oil vapor at the crank breather is very important.
Of course maintaining a slightly negative crankcase pressure helps with ring sealing and minimizes oil migration past the piston rings.