I'll be more succinct: It is a complete and utter waste of money unless you like the way it looks.
It is your truck, spend as you wish, on what you wish. Do not take marketing hype, or the hype of those that have spent their hard earned money on something, as proof that it does what is claimed.
To get a bit more technical, with a stock small block TBI, the throttle body is limited to something like 525CFM IIRC. Here is a chart that lists pipe diameter and CFM
http://www.exhaustvideos.com/faq/how-to-calculate-muffler-size-pipe-diameter/ So 2.75" air inlet will flow as much as the throttle body will. You can't flow more than the smallest restriction.
If the the snorkel inlet is equal to or greater than 2.75" diameter, no additional size will help. I would be willing to bet the snorkel inlet is probably at LEAST equivalent to 3" diameter pipe.
Flip the air cleaner lid over if you want to hear what the aftermarket setup will probably sound like. It's not helping performance, but will give you an idea.