The box is open at the top, but the cone filter isn't exposed to the engine compartment due to the factory engine cover. The CEL problem stems from over oiling. You don't need to spray half a can of oil on the filter to provide protection.
Always oil sparingly, wipe down with clean cloth, then dry with newspaper. Do this once a year, unless you're into offroading. Haven't had a single problem on any of my cars (especially the Box) using this method.
The sound when on hard throttle is just superb...
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