Put the same kit on mine way back when...unless you are doing it for looks, pass.. I've been through the spectre, k&n, gm performance, and back to stock and my mpg numbers never varied enough to justify it. The cleanable filter makes it kinda cool but when you still have to spend $15 on the cleaning kit each time it really doesnt save you anything in the long run.
Did some math just for the heck of it. Lets assume you get a .5 mpg increase. Gas is $2.50/gallon. You drive 50 miles a day round trip to work and back. If you went from 15 to 15.5 mpg it would take 370 work days to pay for itself before you saw a benefit. Longer if you already get higher mileage than that, it gains you less, you drive less, gas is cheaper, etc.
Sorry if this is more reading than you wanted work is slow.