CBV/dump valve/diverter valve upgrade questions

Hello, my name is peter. I have a 1996 850T 15G turbo and am thinking of an dump valve/diverter valve upgrade. I have noticed that there are a few things attached to each other leading to the turbo and do not know what they all are. I want to install this myself if possible, and have come here to get my pointers. I have tried to look up a few things, but havent found what i'm looking for.

1-I noticed a tube running from the intake to something located on the left side of the intake box with 3 outlets.
2-The middle outlet goes to the intake which i am talking about, the top one i believe goes to the wastegate(??) on the turbo. The bottom one goes, ??????
3-where is the original bypass valve/recirc valve, CBV located????

My plans are to upgrade the intake SOON from eurosportstuning, in the process, i am wondering this THING located on the left side of the box, will i have to keep it, or will i end up removing it?? WHAT IS IT??

I have looked up a few dump valve's
1-Bailey Dump valve for 850 t5/r
2-Forge Dump valve
3-Hyperboost HX diverter valve

Which one of these valve's would be the best bet for my volvo, i'm thinking of the bailey.

If anyone could get back to me with some info, this would be much appreciated. I am a do it yourself kind of person, and will learn anything it takes to get it done! I will take pictures and label if needed to make a better understanding of questions and answers. thankyou Peter

The three hosed monster you refer to is the BCS - boost control solenoid. Don't mess with that unless you know what you're doing.

The CBV on Mitsu turbos is built into the compressor housing. It can be blocked off with a blank plate; I made mine out of 3/32 aluminum.

Can't help on the BOV choice. Adding a BOV to a MAF system can lead to rich spikes and stalling at idle. Check with volvospeed.com, most of the FWD guys hang out over there.