The risk of hydrolock from a CAI is overblown by some people. I had a CAI for 3 years and never had a problem.
When you have a CAI, the filter is inside the bumper, behind the pass side corner light, and protected on the backside by the wheel well liner. There's alot of things around it to keep large amounts of water from ever directly hitting it. Sure it'll get lightly splashed once in a while, not nearly enough to get sucked all the way up into the engine, that's a rarity.
As far as HP gains CAI vs. SRI, the difference between the two is so small you won't notice it, but to get technical:
When starting from a stop, the CAI has an advantage because it's breathing in cooler air from outside the engine bay. But after the car is moving, they are equal, both getting virtually the same temperature air. At higher speeds/rpm's, the SRI has the advantage because it is shorter, the engine has an easier time sucking air through the shorter, fatter SRI vs. the longer, skinnier CAI. Better throttle response.
