A system for providing anesthesia or assisted ventilation that has a post-inspiratory valve fresh gas flow input is disclosed. In a preferred embodiment, a fresh gas flow diverter valve is provided to permit an operator to provide fresh gas flow proximally or distally of the inspiratory valve. Also disclosed is an adaptor and other breathing circuit components for forming a system of the present invention. A method of providing anesthesia or assisted ventilation using low flow fresh gas is disclosed.