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HP gain? A couple (1 or 2?) is all you'd get, but toolpants can tell you with more clarity. He knows far more than I, but this is what I've seen as the max it provides.
More Sound is the primary reason for doing it.
Downside is that it really leaves your car vulnerable to water entry into the engine from a poorly placed hose during handwashing, or a solid splash from another car when their tires hit a puddle of water and send a wave to the driver's side of your car.
I have a 97 as well, and decided not to do it just because the downside of getting water in your intake far outweights the added sound.
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