Go with COLD AIR. It can be a real pocket digger to pull power from a N/A car-you can use the extra HP you'll get from a cold-air based system. I live in NorCal and it'll rain for a good 3+ months every year. I drive a GS-T now, but I used to own a Integra w/CAI. It got wet a whole lot (not quite New Orleans status) but it never sucked any water in (and I reved that baby to 95-grand, in the rain). Unless you get the filter submerged (or have really back luck), then you may face some hydro-lock. Get a bypass valve if your worried so you don't have to keep taking the system apart.

 

I heard bad things about the bypass valves falling apart and getting sucked in instead cuz supposedly it's just a piece of foam in the pipe.

 

My friend had a Bretta which we cut out holes in the middle of the hood and it looked really good. The only problem was that when we made a short ram intake (custom) it sucked air out from on of the holes. This was cool but we never drove it in the rain because it would rain right on the filter. Then his ex repo the car herself and screwed the car all up. Broke out the drivers window and scratched up the custom paint when they towed it out of the yard with an old truck.