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I don't have a cold air intake...just have the drop-in K&N filter. I also have duals and the two help make the truck breath better.
From what I read here there is a little seat of the pants HP gain with an intake.....not much......and you probly won't notice anything different than the sound if you don't have exhaust to handle it. It's not a cure-all......it's part of the package you need to make the truck breath easier and work less hard. Definitely not a mpg maker either.
My opinion....based on what I have read and heard about them.....is I'll spend the money on other things. Just not a good return on your investment as far as I can see.
that said.......I'm sure others here are happy they have them.
Put a question in the exhaust forum about what's best or do a search on exhaust and you'll get plenty of advice.........I have true duals...no cats......glass packs and and 2" from the manifold to the 3 X 16 tips out the back. It runs good and I get 16-17 mpg which is all anyone here is getting with a 5.0.
and it sounnnnds nice tooooo...
Get your exhaust and if you decide later to get a cold air intake.....do it.....it's your truck....
Good Luck