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Yes and it's quite effective. Boost pressure was actually more stable with just bleeder jets than it was with the turbosmart single stage manual bleed valve. They take longer to set up and you need a basic understanding of what is going on with the system to tune them effectively.

A manual system like this will never be as good as an EBC, like what matty said, but they can still be an effective budget alternative and there is no reason they can't be equally or even more reliable than an electronic equivalent.