Honestly, not really. Maybe a little, but you have so much more of a chance of sucking water into that thing and ruining your motor. Plus, the mount point of the thing is made to make it look like you have a FMIC (turbo) which is lame imho. Having it there does you no good because, from the ones that I've seen, they put a plexiglass cover over the filter so you don't get any better air flow into the filter to simulate 'ram air'. It's a good thing they do cover it though because any road debris/large insects would puncture the filter element rendering it useless and actually harmful to your engine.

The only intakes that I've seen that might give you a little more power and are still safe from the elements would be a short ram (AEM, J's, etc.) intake or the Comptech Icebox.

You could even go so far as to just use the OEM tube that goes from the OEM filter box to the intake manifold and stick a cone filter on the end. I did that for a while...

Bolt-ons really won't give you much more than a couple extra whp and much more noise. If you want to make power you're going to either have to bolt up a turbo or rip the motor apart and install some better internals (higher compression for an N/A app).

That's my $0.02.
hih