I was going to upload a fiche picture from Majestic Honda for you, but the biggest .doc file I can upload is 19.5 KB. How useless is that? That's enough for maybe a blank sheet.
Anyways, go to Majestic Honda, punch in Civic, 1992, VX, KL5MT for tranny option, and then choose *breather chamber* for system name/component. A diagram with corresponding part list will show up. Illustration #6 is the elbow, and described there by Honda as "VALVE ASSY., PCV." I don't know who's telling the story you're referring to, but it's not correct. My own civic had a PCV valve in it as well, and pretty sure it was original by the condition. Besides, wouldn't make any sense to not have a valve: you don't want those gasses going back into the crankcase. Anyways, Majestic Honda is a great site.
Not sure what you refer to when you say "black oil baffle." If it's the black canister type box the PCV tubing comes out of (Illustration #1) it's the "CHAMBER SET, BREATHER." Not to be filled with oil, presumably. Would get in the way of the breathing part.
Hope this helps.