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In almost every way you can think of...yes. If you use the full L-88 hood to include the air box, your intake will only get air from outside the engine bay which is much cooler. Also, considering that the hood is cowl-inducted, you will achieve a very slight positive pressure from the high-pressure air at the cowl. Realistically though, your power will come from the outside air and a free-flowing air cleaner system.
My original cowl induction on my 73 also had snorkles that would draw air from under the hood as well as from the cowl. I used sheet metal to block the snorkles and force all the air to be drawn from the cowl. My last outing at the track I tested just this. 2 out of 7 runs I removed the air cleaner completely and drew underhood air. The car ran between 2 and 3 tenths better with the air cleaner on and cowl induction functional. Might be just a fluke, but the car does not run better without cowl induction. In some applications, colder denser air will allow bigger jets for a bit more power.
In almost every way you can think of...yes. If you use the full L-88 hood to include the air box, your intake will only get air from outside the engine bay which is much cooler. Also, considering that the hood is cowl-inducted, you will achieve a very slight positive pressure from the high-pressure air at the cowl. Realistically though, your power will come from the outside air and a free-flowing air cleaner system.
Ditto what Gerry said....FYI, the K&N replacement filter for the stock one will fit in the airbox w/ some one-sided adhesive weatherstripping trimmed to size to obtain proper sealing.