FYI, a BOV mounts between the turbo and throttle body. It's connected to a manifold vacuum source. When the pressure is greater on the turbo side (i.e. throttle just slammed shut), it vents the extra pressure out, rather than forcing it backwards through the turbo and out the intake. It's a lot more useful on manuals where you're on and off the gas a lot to shift, but it will put less stress on your turbo and give you quicker response when you let off the gas and get back on it.
A popoff valve is similar, but it's only controlled by spring pressure. When the pressure in your intake gets above the spring's pressure, it vents. You could have a 20psi POV on your stock truck, and (assuming it works properly) you'd have some extra safety in that your engine could never see over 20psi, because the POV would vent it first.
You still need a wastegate of some sort. The stock setup is really too small for our trucks. Porting it helps, or you can switch to a good internal (like PTE) or get an external (like Tial). The wastegate controls how much exhaust gas is let around the turbo. This lets the turbo stay spinning at its optimum speed. You could use a POV to control boost, but the turbo would basically be spinning uncontrollably, leading to lower efficiency.