Yes it works. You don't need a vented cap. Flip yours over (or a wrecking yard donor to play with) and on all I've ever seen, you can see the valves. Use a small screwdriver to hold one open, then try and blow through the cap. If you can blow through it, you've vented the cap. Went through this years ago, the caps being sold at parts store for vented cap (pre-/no EVAP) applications were the same as non-vented, which is of course wrong. IIRC the GM spec for "blow off" on the non-vented caps is 16PSI. So they are technically vented, just at a relatively high pressure.
Personally if you have the EVAP canister and can do so, run it. Can't say I've had any problems with venting the tank through the cap, but in the past have seen rigs where the vapor has caused problems with the paint, and venting fuel vapor externally isn't necessarily a good thing, if it can be avoided.