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I am restoring a 73. When I bought the car it was minus the motor and a few other items one being the fuel vapor canister. I have built a stock motor with the exception of headers, intake, hei distributer and holly carb. Now for my question. Do I need the fuel vapor canister?
You are mistaken, the canister was used in 73. It can be run without, but probably a good idea to use one.
It's behind the driver's side wheel well. There are three air/vapour hoses going to it. One is from the PCV line; one is from the carb and one is from the hard line to the tank. You should see the hard line from the tank on the frame rail near the motor on the driver's side. Have a look from underneath. The vapour canister may stilll be hiding under there.
It also serves as the vent for the fuel tank to allow air in as the fuel is consumed. Although the system does only good and no evil, Bubba is frequently afraid of it and banishes it from his car.