Pure Placebo effect......
The ole "boomdriver" gets the Monday morning "Beacon-of-Reality" Award.
"Air foils"....
Actually they are a "fairing" or a streamlining device and not an airfoil.
They offer no practical improvement to performance on a stock or near-stock L98 engine, however, on engines which have substantial modifications (ie: aftermarket camshaft, headwork and changes in induction system volume and length) such that the throttle body becomes a restriction to airflow, there will be a slight to modest improvement in performance because of this fairing causing a decrease in air flow restriction due to it's "blending", "smoothing" or streamlining of airflow around the divider and just ahead of the throttle plates.
Thing is...on a highly-modified engine, you're more likely to install a throttle body with larger bores and that far greater reduction in restriction may negate the value of the "air foil" in that application as well.
As for people "feeling" the difference on a stock L98...
Sorry but i think "boomdriver" has it right. They've fallen victim to the "placebo effect."
On the gas mileage thing, it's highly unlikely they improve fuel mileage. Don't get me wrong. I'm not doubting people may note an increase, however, I do question the accuracy of their mileage testing. Conducting fuel mileage checks is very difficult for the average enthusiast to do accurately. "Real" mileage checks are done with the car's fuel system connected to a calibrated fuel supply and not the vehicle gas tank and with the car either operated by a computer on a chassis dyno or by a professional driver who can drive the car the same way, two different times, over a special drive route.
Duplicating that accuracy by simply filling the tank, driving a ways on the highway or around town then filling the tank again and noting the fuel added is impossible.
Even if you use the same gas station, the same pump, park in exactly the same position, fill the tank to the same levgel, then use the same drive route, have similar atmospheric conditions and the same driver, it's still difficult to accurately measure gas mileage.
Consequently, i suggest that any nonscientific comparison of gas mileage to support the idea that "airfoils" improve mileage might be questionable in its credibility.