Well, well, I remember a tidbit from the Simonizer thread -
"That is a 503 8280-04 vented cap. Adds redundancy to the existing tank vent. One less thing to worry about when you are flown in by helicopter for your days work."
Ding! I've been stuffing around with EPA crap since 1978 with a brand new 280Z I had (needed different springs on the distributor, different vacumn pot with different pre-load, jumping out sensors, thermostat, etc) (did the same thing to my Hilux tubo diesel boost compensator, different fuel curve, pre-load, orifice on compensator, thermostat. etc)
If the EPA has gone down the road with chainsaws like it did with automobiles, then they wouldn't want the tank to vent to the atmosphere. They would send the fumes though the carb like they do on cars.
Of course, it might just tend to flood the engine at times - unless you raised the POP to resist the extra pressure in the tank.
From reading the posts back in 2008, I get the impression that the guys were addressing some sort of problem created by the 'new' saws.
I'm going to order a 'Green Cap' and see where I go from here.