There are two basic types of air filter assemblies for later C4s: 1) the type that takes air from under the hood and ahead of the cooling stack, which are the OE system and some aftermarket systems and 2) the type that takes air from the cooling air intake, which are a few aftermarket systems that claim to produce a "ram air" effet at high speed.
Let's set the ram air issue aside for a minute.
Several years ago I tested a 500hp ZR-1 on a DynoJet chassis dyno with 1) a stock air filter base, a K&N replacement filter element and a DRM "open-element" top and 2) no air filter assembly at all, ie: the only part attached to the throttle body was the air duct that connects the TB to the air filter.
The engine output was the same in both tests.
This means the stock type air filter base, with a K&N and a open element top presents no restriction to air flow.
Since no air filter assembly is going to increase air flow over that of no filter at all, it follows that none of the air filter assemblies on the market for C4s has any better air flow than the stock 90-96 system.
As for the K&N filter element for the 90-96 OE air filter housing: dyno tests others have run... Lingenfelter Performance Engineering for one...showed that changing from a clean, stock paper filter to the K&N replacement filter offers no performance advantage. The reason for this is the stock paper filter is so big, it will support air flow required by an engine of up to 500 hp with no restriction. Now, K&N's do have an economic advantage over a long period of time in service because they can be cleaned and reused whereas stock paper filters are discarded.
Lastly, the ram air effect: there are a few C4 air filter assemblies that mount "upside down" and take air from a hole the user cuts in the upper duct covering the cooling stack. It is said that, at high speed, say above 80 mph, there is a slight high pressure area formed ahead of the radiator. If this theory is correct, there may be a slight ram air effect to the intake air flow. Again, this is all theory and I've never seen any dyno test data or intake system pressure measurements to support it. Nevertheless, if there is a slight ram air effect at very high speed, engine power might increase slightly because of it.
Bottom line, the best value in air filters for a 96 is a K&N in the stock air filter base with an open-element top.