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My car has the vararam. All of my tuning has been done by me at the dragstrip and on the street.
Once moving at a reasonable clip, the IAT follows ambient outside air temp nicley. Easy to see in the logs.
It will heat soak though. Our cars build a lot of under hood heat.
Anything you put in front of the MAF affects it's calibration. Tuning under real world conditions at speed allows me to dial the fueling nearly perfectly.
A dyno tune won't do that.
Aother benefit of a cold air intake is that it helps keep intake temps low. At higher air intake temps the computer is going to pull timing, which is going to cost horsepower.
My observed benefit from the Vararam is not raw performance, but rather the ability to run Regular gas with no timing pull-back, even under almost-full throttle. I didn't do it specifically as a cost/benefit investment, but a year ago the price differential was over 50 cents per gallon (and will be again:-) and for a daily driver this was very significant. Just use the basic kit - you don't need the special power hose (saves $50). I also had the fans re-programmed and added a 170 thermostat.
I was pricing a simple K&N replacement filter element ($65), but for a few bucks more I get a nice performance filter as part of the Vararam. As a tinkerer it seemed a good idea. It was easy to install (use the YouTube video method). You should remove the shrouds and clean your radiator anyway, and I am very satisfied with all the results.