Just remove the air silencer and put a K & N filter in. I think the stock intake is fine because it's not metal, which would attract heat; where as, the stock intake tube is rubber which can help keep the air cooler

 

how much more of a gain would you expect to see from an 01 cobra???

 

Somewhere around 15 to 20 HP. I know an '04 supercharged Cobra got close to a 30HP gain with a Densecharger CAI installed. Supposedly the Steeda system dyno's higher than most due to the more direct flow of air than some others and the use of an oversized filter with greater surface area.