Benefits of a cold air intake?

[Du6]

Air intake Toyota 4runner 1991 V6 3.0L - YouTube

Above is a video of a cold air intake on a 4Runner V6 like mine, to give an idea of what I'm talking about.
My question is this:
Why would somebody go to all the expense of this intake?
It's called a cold air intake, yet the filter is inside the hot engine bay, pulling most of the air from there. Some of the air comes from the hole left by removing the stock system, but especially during idle, most of the air is hot.
The stock system pulls 100% of the air from the port just behind the headlight. I would think that getting a higher flow filter element (K&N must make one.) and using that with the stock (actual cold air intake) system would be much better than changing over to the hot air intake system.
Other than sounding meatier, I can't think of a good reason to do it.
Thoughts? Discuss.

 

[bimmr2002]

search "isr mod" basically it gets rid of some of the redundant intake routing between the Afm and the intake and from what I have read frees up some airflow and increases throttle response. I would have to say the isr mod is the way to go compared to a CAI as far as what you get for your money.

 

[HiluxSurf SSR-G]

that's a hot air intake. and it reduces power output in most cases.

the stock air intake which sources air from inside the fender is the REAL COOL air intake system. only thing is most stock cool air intakes have restricted tubes. if you replace the restrictors with free flow tubes, you get more power. more if you polished the inside of the free flow tubes.

 

[zeak]

Just something I found while poking around.

Cold air intakes with dyno runs. Turbo and na engines

Cold Air Intakes Mythbusted - YouTube