If that sound is what you're going for then by all means, enjoy. I do suggest you get a short ram instead though. A CAI usually hangs low enough that going through a large puddle will run the risk of sucking water into the engine with ugly results.

As for performance, don't expect a gain. Horsepower TV did I/H/E on a D15B7(?) and gained a whopping 9hp. Even if it could gain 15hp on a Y8 that's still not enough to make the car noticeably faster.