Pros: Easy to clean. Slight increase in throttle response. Dresses up engine bay.
Cons: Price, but I made up for it when I sold my old air box and filter on eBay.
This was an easy intake to install. It took about an hour total. I also wrapped the filter in one of K&N's dry charger covers to help keep dust and debris from prematurely clogging the filter. I probably would not have normally bought this intake, but I got a good deal on it. The throttle response has increased slightly, but I didn't gain any mpg's from this kit.