The stock air cleaner pulls cooler air from the front unlike open air filter cleaners. That filter is about the same size as the stock one, not much bigger, so as long as you aren't idling a lot or slow in heavy traffic, that will work better than stock. The enclosed air filter will be better in heavy traffic, or whenever the IAT's go up from slower speeds. Watch the IAT's if you can with a scan gauge etc.
Good speed conditions will get you IAT's a few degrees over ambient. I have one in my 98 I monitor IAT's continuously, while at work etc. I see temps at very slow speeds maybe 15-20* over ambient, rarely ever higher.
Try to find a Volant air cleaner, that was the best one made for these 95-01's. It was a 19640 part or similar #, I have that in my 99 4.0 truck. That's a cold air filter system, it pulls air from the OEM headlight area.
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