I did this last week. Nice clean install, looks good. Sounds nice, but really haven't had time to notice anything else.
That said, the value of a CAI is a major can of worms. The only consistant point I could find was that most owners like the sound better (even if the wives don't), about 1/2 the owners felt "better pick up" and virtually no one sees a mileage increase.
I personally think that if you are going to look at airflow through the engine you need to do it from intake to exhaust tip. So, in my mind, if you want to maximize the benefits you also need to look at exhaust and even manifolds.
Banks actually offers a kit that includes the intake and exhaust for a slightly lower cost than the two pieces together. I wish I had seen that before I ordered my CAI, but I am likely going with an MBRP exhaust anyway.
If you are just hoping for better mileage or cleaner air, get the simple K&N filter. That will likely do most of what the Banks system does at 10-15% of the cost.