it will be a mix topic, hmm a bypass could save the turbo with the sound but if your looking for the sound then hook it up. I was thinking about this only to save my turbo a bit, a bypass could do the same but not sound i think(idk) what brand are you gonna go with?? try frozenboost.com might be knock offs but if it works then hey! hmm what are you plans for the car??
The main reason is to let off pressure between shift so the turbo stays up to speed. Since a hot air car has a throttle body before the turbo you are cutting off the air to the turbo anytime you left off the throttle which is going to slow it down. Most turbos blow through the throttle body so you need the blow off valve to relieve the pressure between the turbo and throttle body so the air doesn't try to go back through the turbo. The only benefit on a hot air car is maybe a little easier on the bearing in the turbo and the sound if you are into that. Venting the blowoff valve to the atmoshpere to hear it instead of back into the motor ahead of the throttle body will freak out year MAF readings. Be prepared for black exhaust tips and sooty bumpers!