Just added this item to Partshopper, Airaid's new intake system produced an additional 17 HP and 21 ft/lbs with stock tune and stock exhaust....this system doesn't require a flash - thought you S197 guys might like to know http://www.partshopper.com/shop/AIRAID-Intake-System-for-2005-06-Mustang-GT-m371.html
Just me, but as I know the aftermarket has spent some bucks on R&D for this stuff, seems to me all the "cold air" kits are way over priced. I really like the WMS ram air system in the link here in the forums but I just can't see shelling out $450 for a couple of easily made, simple parts. I see the same thing going on with the other 05-06 parts like headers, exhaust, and Ford's newly released chrome valve covers ( $400 a set ) Soon as the price comes down to a reasonable level, I'll consider investing in one. Till then I think I'll just buy a drop in K&N for the factory filter box.
4.6 parts are relatively expensive no matter how you look at it, but considering you don't have to buy a programmer, which is usually the norm whenever you buy a CAI with the new 4.6 3V, it's definitely a plus.
Yeah, I just dropped in a k&n panel filter, took out the HCT and focused on exhaust... more fun that way