Looking at those pictures and hearing that the air injection port on the head is capped, I would say that what you have is a relief valve, not a diverter valve. However, your vacuum diagram shows a hose going from the valve to the carb, so I would look for an unused fitting on the carb that would fit the hose from the valve. The carburetor section in your factory service manual will have a diagram showing all the ports on the carburetor and indicating what attaches to each port.

The AIR injection systems in the late 70s and into the 80s are confusing because there were many variations depending on the equipment ordered on the vehicle and the final market.

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Casually looking for a Clifford hyperpak intake for cheap.

After some testing I figured out it is a diverter valve in a sense, it cuts airflow when you let off of the accelerator. I think this is to prevent backfiring.

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Seeking

Yep, sounds like a relieve valve venting the AIR pump discharge to the atmosphere like it should.

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Casually looking for a Clifford hyperpak intake for cheap.