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If you're just doing a cai as a stand alone mod, they don't do much. A forum member had the AFE dyno tested without any other mods and the gain was ~10hp which you can't feel on this car. Some say there is an audible difference, but I put the afe on my car and I couldn't hear any difference, but that doesn't mean you won't.
It's more of a cosmetic upgrade to the engine bay, so it depends on which you like the looks of better. If you're doing other mods in addition to a cai for hp/sound gains then it can be worthwhile or if you like the way it looks, that can be worth it too.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.