Intake idea

I had my air filter just like yours but lower(LS1/LS6 intake) and when it was on the dyno the air temp was in the 130's.

When I put a K&N 8.1 truck elbow on it the filter sits where the storage box was and I gained 30RWHP!

Temporarily, it's ok.

However, during traffic and city driving, your power loss will be significant.

The pcm has a table that modifies timing based on iat, on some trucks, 15degs of timing gets pulled, that's more than half the applied timing at wot!
Timing makes power.