It will do a wonderful job of letting more crap into your air intake.
Seriously ripping the whole intake and filter off may net you like .6hp...is it really worth dusting an engine over?
For that matter oil does scavenge quite a bit of power, just drain all your oil.
Same for you fan take it off, it is robbing power left and right, cvome to think of it so is that damn water pump and alternator.
Turn your air filter cover upside down, cut your belts to the alt and water pump and take off the fan and drain all that oil...you are guaranteed to make 10 extra hp