PCV Valve Problems

I have a fuel injected 94 accord and the hose to the pcv valve (From the firewall) seems to be pinched shut (from the negative pressure), could this do anything bad? I haven't noticed anything yet but I'm thinking that it could affect something...

?The question: is there an open line from the valve cover to the intake when pressure builds up in the crankcase? Hoses are cheap and if it is collapsed, just replace it. If you build up pressure in the crankcase you could blow engine seals and they are a lot more expensive to replace then hoses.