I have the K&N short ram, I didn't dyno it thus I can't tell you how many horses we are talking about, but it does breath better especially from 3000rpm and up compare to a K&N drop-in, (Yes, I had the drop-in prior to the short ram)
For under $300 I think it's a good investment both performance and price.
Plus no cutting or whatsoever, even to wash the filter is easy cos you don't need to take off the bumper.
DIY Tips on Installing K&N Short Ram