DISCLAIMER: I share this info with you for educational purposes only. Change anything on your engine at YOUR OWN RISK. I accept no responsibility for what you do.
Okay, the nastiness aside...

You can generally tell the difference between the wastegate and the BOV opening, but to tell the difference you HAVE to have a boost gauge. If you don't yet have one, run down to your local auto parts store and buy and install boost and EGT gauges before doing ANY power mods to your engine.
Wastegate opening: the boost rises to a max then levels off or dips a few psi.
BOV opening: the boost rises to a max, then drops suddenly, often by half or more before creeping back up again over 5-10 seconds.
If you install a MBC and crank it wide open, this can cause a big spike in your max boost level if you have played with the max fueling screw (see Smog's
Making Your 1.9lTD Faster thread), resulting in engine damage or death. :cry:
The BOV
SHOULD open to relieve the excess boost, preventing the above mentioned scenario. However, if you also shim the BOV spring, you take away this protection to the degree that you increase the stiffness of the spring. BE VERY CAREFUL! :shock:
On my Quantum, the BOV and wastegate operated at pretty much the same pressure (~10psi boost). I now have a new turbo for the engine, but will be reinstalling my BOV before increasing boost. The Q is not my daily driver, but I see no good reason to blow up the engine through carelessness or ignorance. I've done that to enough engines as it is... :roll:
Gone for the rest of the day. Have fun!