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My son drives an Acura Integra with a cold air intake. It is low to the ground, as the filter sits just in front of the passenger front tire well, and is about 8 inches off the ground. He bought one of these AEM bypass valves. We just got through taking the bypass permanently off his intake as it was very cheaply manufactured and had a significant problem. The main cage support inside the valve is cheap plastic, and it split apart 3 times. Turns out that when you rev the engine, the torque causes the engine to rotate in it's mounts slightly. This results in a push and pull of the intake tube, putting stress on the valve. We repaired the cracked valve with epoxy first (split in 1 day), then with JB cold weld (which lasted 3 days).
The upshot--if someone makes these for Corvettes, make sure it has a metal structure for strength, or a softer plastic that will give under twisting stress or else it will fail. That is why we have rubber and soft plastic that gives between our engines and the air filter.
Yup, I had read the early bypass values had that defect. They had a recall and apparently redesigned it not to do that. :) But yeah that was a nasty bug.
I have a feeling the displacement of a 5.7L engine will just be too much for this sort of design to work properly. :(
They were recalled to fix the internal cracking problem, but they won't work on our cars. I put one on a friend's Civic, easy install and cheap insurance.
One was tested on an NSX at full throttle, and the intake pulled foamed water 3 feet up the test pipe-vertical lift is all that matters when discussing this, horizontal distance doesn't matter at all. Vertical lift from a bottom breather filter to the throttle is under a foot on our cars-once water gets through the filter, it's going to get into the throttle.