Hi Laurence,
As my favorite anesthesiologist points out, the 1/2" valves *may* be ultra-overkill but I've had experiences in the past in which smaller (1/4") lab valves ended up whistling due to the large amounts of air in high flow applications. I leave theses units unglued so you can make any desired modifications without killing any parts so have at it and simply replacing the pipe with a longer one is easy
The ones intalled do work pretty well though IME, keep the valve completely open and run the water through the overflow, you can slightly close the valve to quiet it down but this will take a little tweaking to get it right.
I started adding valves to these several years ago as the original design called for a drilled hole, the size of the hole is dependent on the amount of airflow/waterflow, since I can't determine the actual flow from here - started using valves to give so flexibility.
The secondary bulkhead is there so you can add a pipe to it and have an "emergency back-up", so if the waterflow is too much for the Durso, the secondary will pick up the slack and not overflow - hope that makes sense.
The primary Durso is constructed as Marshal described. A length of pipe with a tee on that, street ell off the side, threaded cap on top of the tee, valve off of that. Other than *maybe* lengthening of the pipe to a desired length, should be no other necessary mods but if a different valve is desired, than feel free
Set-up looks great and hope all is well,
James