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To cut the filter lid, just leave a ledge enough to hold the filter in place. If you don't now have a K&N you may want to consider a SLP cold/ram air setup. It costs about $160 and comes with a stock size K&N so in effect only costs about $110-$120.
For the TB coolant bypass I got a piece of formed heater hose from Auto Zone. It had a 180 deg bend; I cut one end short enough to route the hose from the front of the block out under the TPS sensor and the other (long end) went back far enough to be consealed behind the other hoses on the right side where I made the splice with a coupler and two hose clamps. Get two large vacuum nipples to cover the coolant fittings on the TB for a nice finished look. Of course you will need to drain about 1 gal of coolant. If you remove the MAF and intake duct it's easier to work in there.
Use a Dremel or grinder with the heavy duty discs for the lid. I have pictures of the lid cut with a hacksaw and another with a Dremel. You can remove as much as you feel comfortable with. I didn't go any farther b/c the cover screw mount in 1/2 way down the side. http://temp.corvetteforum.net/c4/joh...o/index2.shtml
As for the TB bypass you can go to the local auto parts store and pick up a heater hose connector and a pair of clamps. Just remove the hoses from the TB annd connect them. I paid under $2 for my bypass. :cool: I have a crappy picture of what I bought in this link. http://temp.corvetteforum.net/c4/joh...o/index7.shtml