When I got my AEM CAI over the summer I ordered a bypass valve and never put it on. It rained and snowed a lot this winter and I'm pretty sure I never damaged the engine. Sometimes I checked the filter after it rained and it was wet......but I never heard or felt anything when driving. :dunno:

If you really want it I can send it to you for like 10 bucks, I don't plan on putting it on. I have like the same exact car as you with an AEM CAI. (95 Accord EX Sedan Sherwood Green Pearl :thumbup: )