Just as important as missing items 41 and 42 on
this page is checking the condition and replacing (if indicated) item 26; the rubber doughnut seal on the pump.
If I recall correctly, item 26 is a bit different from earlier Commandos as it was thicker. There may also be a steel shim behind the item 26. Other knowledgeable persons on this list can clear this up.
I would wait and replace item 41 and 42 as every little bit helps to reduce drain back into the crancase. The "gizmo" is performance benign and does not reduce max oil pressure. The worst that could happen is that it periodically hangs open when you shut the engine off and you get drain back sooner rather than much later.
I am not sure how the factory intended for this thing to properly function. You can clearly see that when the engine is off and oil pressure and flow ceases, the plunger should slide towards the oil pump and cover the side drilling in the timing cover. What I am not sure of is whether they intended for the plunger to also form some sort of seal against the oil pump rubber seal (doughnut). That is why I suggest you make sure that the rubber doughnut is proper for your specific engine, that it is shimmed properly and it is still compliant (rubbery). I read somewhere where you can check the adequacy of the oil pump seal fit by offering the timing cover to the engine and measuring the stand off or gap before nipping up with bolts.
My opinion on why this factory fix was not so effective is that even if the plunger was 100% effective it would only seal against crankshaft drain back but the oil pump would remain under gravity pressure from the tank. I am certain that there is some leakage through the pump and out past the pump shaft, into the timing chest.
It would be fun and interesting if someone had the time and a cut away timing cover to test and see exactly where the oil is leaking with a plunger anti drain back valve and and an elevated oil tank.
I know I would sleep better at night knowing the answer.