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If you have a z06, the gains I think are a little better than the Stingray. The AFE on a Stingray was dynoed by itself at about a 10hp gain. For the z, I think the halltech is the best system, you'd have to check the z section, I'm sure there's tons of info there.
I just replaced mine with a K&N (sorry AFE, you did not pop-up on Google). I priced an OEM and found it to be in the $60+ range. K&N was cheaper plus free shipping so I bought it. I own other cars with K&N's also. At 32,000 miles on my 15, the stock filter was not that dirty. I am hanging on to it for now. The 2 plastic clips that holds the rubber emissions hoes on can be a little stubborn.
I too have elected to just upgrade my filter only... went with the AIRAID BLUE non-oiled. Synthamax, whatever that really means. It runs you around $89-$100 bucks. Will report on the seat of the pants feel in the sprint once i get it installed. I will likely get 98% of the CAI performance with this filter and saved myself $400
CAI is overkill for a Stingray... maybe ok for the Z06