on most cars, the cone filters don't do anything because air intake is now drawing warm are from under the hood...so sure you're able to pull in more air without restriction, but it's warm air. So the net gain is negligable. I've talked to a few of my mechanic buddies, and they say they're taught this as well.
As far as turbo'd cars go though, you're going to throw that air through an IC anyways. Sure it's better for it to be cold to begin with, but the heat soaking isn't as much of a problem.
Although I've seen dyno graphs online of people who claim 8hp from their K&N...I didn't feel anything different other than being able to hear the turbo spool and stock BOV