OK, got home from work a little early and the Volant CAI was sitting on my doorstep. I still had a couple of hours of daylight, so I started the install. I selected the Volant because I wanted an enclosed unit that I didn't have to oil. I haven't seen the TRD CAI in person, but I suspect the fit & finish are better, and the quality is probably higher overall. I could have spent more on it (+$40) but I wasn't too impressed with the claimed HP & Torque gains (even if the Volant numbers are inflated). I could have gotten the new AFE with the no-oil filter, but at $400, I would have preferred the TRD, but it was eliminated due to the oiling.
First impressions:
Taking the unit out of the box, I was disappointed in the perceived quality of the components. Cheapish looking plastic, etc. (I've heard others comment on this as well).
All the parts were there, and I didn't have any difficulty reading or interpreting the instructions.
Install:
The install was very straight forward, and took about an hour. I followed the advice of others and used the inlet flange from the factory box to help create the seal at the fender wall. I had a little trouble getting the bolt that holds the airbox to the truck, but it finally went in and firmly seated everything.
Fire it up:
After finishing, the truck just clicked, so I thought "even after all the other posts about the MAF sensor, you still got it backwards". After confirming it was the right way (it was), I cleaned my battery terminals and she fired right up (this was really the only hiccup.)
Fire it up (round 2):
Truck started up and I heard no discernable difference in the truck's sound at idle. Cleaned up my tools and took it for a spin. NOW I can hear the difference. There is a much throatier grumble as you accellerate, and if you really get on it, it screams. I can't imagine what one of the open style boxes sounds like (I drove an 02 that had a K&N when I was shopping around for trucks a couple of years ago, and it was noticable, but that been a while.) The truck now "sounds" like it has a V8 in it, but it's not obnoxious. It completely dissappears at cruising.
Performance:
Still too early to tell, but the truck jumps more than before from a standstill. If you're rolling and floor it, the truck immediately drops a gear and GOES. Back pocket dyno definitely noticed some more pep. I haven't had it on the freeway, yet.
Fuel economy:
Obviously don't have much data on this yet, but the computer reset (with the battery disconnected for the install). I reset it again after I was done "horsing around", and then drove more normally (read: not babying it, but not launching every light.) Tooling around running a few errands I racked up about 15 miles in town, and my average is at 15.7 since the reset. This was all in town, never over 45. This shows to be a decent improvement since the new wheels, tires, & lift. I normally get 14-15 after I fill up in town and start running around (before I hit any highways)
Final thoughts:
Although initially dissappointed with the "quality" of the unit, the finished product does add a little bling under the hood. I like the rumble under mild accelleration, and I love the sound when you wind 'er up. Perfomance seems like it will be there (especially after the ECU learns the new A/F ratio's), if not, maybe a bit of "placebo effect".
I have the Zoomers on the way and it should be installed this weekend, so I won't have a lot of time on the Volant by itself, but I will have a couple of hundred miles on it by then.
I ended up getting it for $355 shipped from AutoAnything. Time will tell if it was worth while, but I suspect I won't admit it if I decide it sucks.

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Do you really care what truck I have or what mods I've done? Probably not, but here they are any way:
Loaded 07 LTD 4x4 DC 5.7. ARE Cap, Yakima Rack, Toytec 3" Lift, ProComp 8166 Wheels, Nitto Terra Grappler 305/55/20's, Bullhide Spray-In Liner, Volant CAI, Black Headlight Mod, Zoomers Cat back exhaust.
Still to Come: Headers? Speaker/Sub upgrades? What else? Supercharger........? I'm sure I'll think of something.