I 'm sure it does perform better then a K&N or most other CAI. I've seen a lot of good comments about how much air it flows. My main complaint (and honestly the reason I finally decided not to get one) is how cheap it looks because of the tubing. The actual air box that sits on the intake looks like it is quality and well designed (looks really good actually), but then you have to attach essentially dryer vent hose. Really makes the whole setup look like crap, in my opinion. If someone would design some custom tubing that looks better, then I think I would consider swapping out my K&N FIPK.
If performance is your main goal though, then who cares what it looks like, as long as your et is improved.
By the way, I mean no disrespect to those who have this setup. It is not a reflection on you, because you are just out to get the most performance you can, and you found the setup that works best for you. It is more of a statement about the company that makes it. They should try a little harder on the tubes.