@Etaka8 No the induction kit will only make more noise and suck in warm air so you'll probably end up with less power after fitting it.
Why not smooth out and drill out the airbox, that is cheaper and will be similar to an induction kit for a lot less money and as it's the standard design of airbox it will likely give you a bit more top end and as it's fed cold air will not sap power as much as the open filters.
Get an airbox from a breakers yard to play with, then it's just a simple bolt on mod when you've got it all ready.
The K&N Cotton panel filters can work quite well, and are certainly better than the OEM paper filters.