K&N Air Filter v.s. Replacement Elements?

[LJHagen]

I'm getting ready to sand-blast and paint the body of my early 91 non-intercooled CTD. I'll leave the old air filter on there 'till I'm done, but once it''s painted will be ready to replace the air cleaner with 'something'. I know there are arguments for and against the K&N 'can' type air filters (not to mention not many kits out there), but if there's any chance of better mileage/power (or being able to hear the turbo better w/out being annoying), I'd like to entertain it, if I won't be sacrificing good filtration. Thoughts? If anyone has advice for making a good install kit (if we favor free flow filters), I'm open to suggestions there too. Thank you gentlemen!