just to summaries on how the turbo works.
the exhaust gas from the engine is collected into one and goes through the turbine housing, which spins the turbine wheel.
The turbine wheel is part of a shaft which goes through a bearing cage and on the other end is another wheel, this is called the compressor wheel, it also has a housing which is called the compressor cover.
As the turbine is spinning and the shaft is connected to the compressor it spins that as well which sucks air in one side, compresses it and throws it out the outlet.
this compressed charged air then flows through a set of pipe work into an intercooler if its fitted with one, then through another set of pipe work and into your throttle body.
the bov is best mounted on the cold side of the cooler piping as close to the throttle body as possible so between the intercooler outlet and the throttle body.
that has a diapgram and spring and is vacume controlled to realse the valve and leak the compressed charged air in the system out of the outlet of the bov which can be leaked to atmosphere which goes "ppsshhh" or can be plumbacked back into the intake pipe near the filter.
The waste gate which in most cases is internally built into the exhaust housing or turbine housing simply acts as a boost controller.
the more exhaust gas coming from the egnine the harder that turbine will spin and the more boost it will make, when it reaches the desired boost level the waste gate valve will open and bleed the exhaust gas off out the exhaust pipe before it gets to the turbine so it slows the turbine down and restrics boost.
the waste gate is much like the bov with a diapragm and spring and is vac/boost controlled.
Externally gated turbos are same thing only the waste gate valve isnt built into the turbine housing its a separate unit which will come off a pipe mounted onto the exhaust manifold before the turbo.
they can either run an outlet pipe to atmosphere which is called a screamer pipe or they can be plumbed back into the exhaust system further down the line but before the cat to be legal.
sorry about my spelling im cold and tired and just finished work.