Be careful with the stock setup. The stock wastegate is pretty inadequate. Due to the crappiness of the stock wastegate setup, a "boost valve" can lead to dangerous spikes of overboost.
A popoff valve is simply a valve that opens at __psi. Put a 25psi valve between the turbo and intake, and it'll never let your engine see more than 25psi. Under 25psi, you won't know it's there. This is all assuming it works right. Some have had leaky valves, which leads to problems building boost and stuff. If the valve is broken in some other way, it may not open at 25psi like it's supposed to. In that case, your safety device isn't really making it any safer.
A blowoff valve is similar, but has a vac line hooked to the intake. When you let off the gas, the throttle blades slam shut. The turbo is still spinning and pressurizing the air. The pressure has nowhere to go, except back out through the turbo and air filter. (This is the "turbo flutter" sound you hear more with a cold air kit.) The blowoff valve sees the pressure difference between the engine intake (now in vacuum) and the still-pressurized intake path (IC, tubing, etc.). The blowoff valve vents the extra pressure out to the atmosphere so it doesn't have to go back out the whole intake path. By not being forced bakc out the intake, it puts less stress on the turbo and doesn't slow it down as much. It won't take as much to spool the turbo back up in on-off-on situations, and the turbo should last a little longer.
It's a bigger issue with a manaul transmission because you're on and off the gas a lot to shift. With an auto, the throttle stays open. Many people have tons of miles on their trucks with no problems with the stock turbo. I've got 147,000 on mine, and it's still pretty tight. Again, if the valve isn't working right, which has been a problem for some, either you'll have leaks in your intake or it won't actually do what it's supposed to. Personally, due to the problems I've seen, I don't plan to install a BOV. In our setup, it only does anything when you're in boost and suddenly let off the gas (which really shouldn't be that often).