There are benefits over 'they just make more noise' claims. Cold air? Not so much as the factory massive plenums and noise-mitigating balloons did introduce cold air from the wheel well inlet. When you yank out the factory mess, there's a fender 3" air inlet hole near centered with the
K&N heat shield. Gobs of cold air to be had. Less restriction does increase noise under heavy throttle but a pay-off can be felt by opening up both ends of the pump (engine). A less restrictive
muffler adds to the magic where more air in, with faster exhaust pulses out, and more power can be had. Why? The fuel mapping will adapt to lots-of-air sucking in and adds more fuel to compensate the mixture. More fuel, more go, hot-rod 101.
Took a stocker and swapped the exhaust to a
Borla Touring system 'cause the factory sounded a little anemic for a V8. Added the
K&N to make room for a catch-can (air-oil separator). The intake
throttle body was oil coated from the factory PCV goodness. Removing oil vapors and carbon bits from the intake was my goal. The throatier
K&N surprisingly perked up the off-idle response and it clearly has more mid-range pull. My Wife thought it was some killer gas in it. Told her to stuff her foot in it and was quickly met with a grin as it shoves you back while she 'barks' a tad.
Easy install? No. There are some hose/fitting issues well documented but an easy fix. Below post is about the catch-can but does mention the
K&N hose challenge.
https://forums.fordthunderbirdforum.com/threads/2003-2005-catch-can-installation.13537/