I made this modification to take warmer air from the engine compartment (instead of the fender well) during winter months. It helps IMMENSELY!!
I can hear a "slight" increase in turbo noise with the engine side open in the winter - but, yeah... (you guessed it) it's not that loud and I kind of like hearing the turbo a bit better.
Winter:
1. Cut a hole on the engine side of the air filter housing the same size and shape as the OEM hole on the fender side.
2. Block the OEM hole on the fender side with a thin piece of sheet metal.
Summer:
1. Put the thin piece of sheet metal on the engine side to block the warmer air and restore intake to the original OEM intake pathway.