Get the AEM cold air intake!!!! Since u want the best quality/performance and price is not the biggest issue. With the bypass valve its up to u. I Had a AEM cold air on my civic with out a valve and then I bought one but was too lazy to install it and its sitting in my garage. I recked the civic before any water could have killed it.

When they mean submerge in water, they are talking about just the entire filter that will be in ur front bumper. When this happens there is naturally a larger "sucktion" effect in the intake and the bypass valve opens up.