I always feel that a CAI system (same goes for headers and exhaust) works best on large displacement engines, as these power upgrades work on air. The more air a engine pumps, the more effective they are.
On my friend's Sebring 2.7, same as the trep SE, a CAI barely did anything. It pulled a bit harder once past 4000 rpm but it's not something you'd notice unless you're paying full attention to.
However, on another friend's Z28, it certainly was noticeable.
I don't know what engine you have (though according to your profile, it should be make a hug-ass difference
). If you have the 3.5 then it should be more noticeble than if you have a 2.7. One thing for sure, no matter what you have, low end responce won't change a bit.
I personally don't want to spend the money. But I'll buy a drop-in K&N and do the airbox mod.