Another point to note is that the cylindrical type works on pressure only regardless of angle and load. The square type uses a ball rolling up a ramp method to regulate the rear pressure so it is sensitive to the slope the vehicle is on and the amount of nosedive under heavy braking.
The square type can be used as poor man's adjustable proportioning valve by altering the angle it is mounted at. So says Vizard anyway. I have a new one I bought from Mini King I intend to try, as my Moke has a tendency to lock the rear wheels first in the wet, despite having the smallest rear wheel cylinders available.
Cheers,