Perhaps to use the timing chest as an oil separator since the '72-'73 750 version pushed a considerable anount of oil up through the breather tube when the engine wet sumped?
That is interesting because when my original Combat (with an 850 style breather, original blocked, holes in timing case and original front pickup) wetsumped at speed, oil blew out of the case barrel joint. Now, this was with most of the oil in the cases and little in the tank but despite huge pressures in the main cases oil did not find it's way thru to the timing gear area and up the '850' breather. You'd think that with a 1/2" to 3/8" pipe going to the tank it would be least path of resistance but no it wanted to exit the joints. I never and don't understand that. The tank breather in those days went to the aircleaner so it wasn't sealed.