There is a point were air movement is more important than air temperature. Most setups will never hit that point so a CAI works best for most people. Also while hydro locking is extremely possible have seen it personally it is not likely going to happen. You should not be out driving if the water is deep enough to hydro lock.
Of course I am doing best of both worlds. Since volume of air is so so important for me and 2 extra 90 degree bends that kills air flow on the CAI is not for me. I am running a RAI sealed off from the engine bay. Then running dual pipes one from each side of the fog lights to direct cool air to the filter. More cool air than the CAI would get. Then if I need more air flow I remove the passenger side headlight and it directs cooler air directly into the intake.
Of course I am doing best of both worlds. Since volume of air is so so important for me and 2 extra 90 degree bends that kills air flow on the CAI is not for me. I am running a RAI sealed off from the engine bay. Then running dual pipes one from each side of the fog lights to direct cool air to the filter. More cool air than the CAI would get. Then if I need more air flow I remove the passenger side headlight and it directs cooler air directly into the intake.