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I can't speak for a 5.4, but I have an Airaid MXP CAI on my Titan, didn't help for gas mileage. But the butt dyno says more hp and torque. Sounds like a 4 barrel opening up when you hit about 3k rpm, nice throaty growl.
After doing much research into the various CAI's available for the 5.4, the consensus of those using them and dyno numbers seem to all point to keeping the stock intake and using a good oilless filter.
Most of the CAI builders don't seem to be putting the effort into insuring the MAF sensor sees the correct flow to provide the correct A/F ratio.....so end results are either too lean or too rich and not allowing the system to take advantage of any additional airflow.....that is IF there is truly more airflow. Stock is tough to beat!!
Cleaning the MAF sensor seems to give a bigger seat of the pants gain and is free!