Do not cap it and do not vent it.
If you cap it, pressure in the crankcase will build up, and it can eventually cause you to blow piston rings.
If you vent it, you need to vent both banks. Otherwise you will be letting metered air out, and sucking in unmetered air (not the same amounts). this will cause your a/f to become very fluky. You will have less power, and worse mileage. Venting will also send that carbon and gasses right into your engine bay (this is why you see K&N filters on some valve covers). However, no filter will clenze the air enough to keep it from stinking up the car.
IMHO, this mod is not worth it unless the car is a pure racer. The driveabilty benifits far outweigh the power benifits. Your better off cleaning your intake more often.