Here it is in my car. Its a Abarth Grande Punto, but shouldn´t be much different on a Abarth 500.

Nothing needs to be changed on the dumpvalve itsself! It just blows the air out of the little airfilter. The sound is louder without the filter (but i like it this way, looks nicer!). Also i remove the "isolation" of the bonnet when it doesn´t freeze: you can hear it better

. (when it freeze i like the engine gets faster on temp so i put the isolation back. But normaly it also cools better the engine room without the isolation (feel the bonnet in the middle and sides, its a real difference in temp!)).
Grtz Shadow73.