Thank you everyone for all the insightful advice on this thread.

I live in Chicago and my wife called me frantic on Tuesday about smoke coming out of the hood. She had driven only a short distance after noticing the smoke. I never saw the source of the pressure relief but I suspect the valve cover gasket failed. The engine had lost 2 quarts of oil and everything else was as described. Car had sat outside for 4 days without being driven and most trips are 6 miles to her work.

The mechanic stated that the oil separator valve is now INSULATED and should not freeze. Can anyone confirm this? I live in the west suburbs of Chicago and unfortunately don't have a garage.

List of repairs:
PCV Repair Kit
Vent Hose
Valve Cover Gasket Set
Gromet
Boot

Almost a $1,000 of repairs later, I would welcome any input on the following:

1) Is the redesigned oil separator valve insultated?
2) Other than the dipstick and a garage, any other precautions that can help prevent this? Is there a temperature threshold where this won't occur?
3) How does changing the oil help prevent moisture in OSV or does it?
4) Do I need to clean the oil off the parts around the engine block but not on it?

I love this car but I should have left it in Arizona when I had to move! Seriously considering trading it in at this point.

It obviously hates the cold. Door carriers, window regulators, and OSV. Does it ever end?