No intake will give you 10hp. That's bull.

Bypass valve, forget about it. It's marketing hype and usually falls apart anyway. The chances of you ever being even CLOSE to a situation where a bypass valve would be needed is slim to none. You have a better chance of one of the sharks at the Baltimore Aquarium jumping out and singing to you before eating you than needing a bypass valve.

Now, with that out of the way... AEM or Injen. I have an AEM CAI on my prelude. I'm in northern PA, no bypass valve here and never a problem. Injen are ok, from what I hear. But I'd rather go with the AEM, dyno proven to make the most HP/TQ of any air intake.