Okay, I understand what you mean now. I always thought it was just open element. Oh well, I was wrong.
But the way that the filter is, it sits right behind the driver's side fog light. The only way water is actually going to get into that area is getting around the fog light or by splashing up under the skirt that is under the front bumper. The entire place where the filter sits is enclosed except for the small opening behind it, which is why I couldn't see the car hydrolocking unless you go into a puddle big enough to submerge the front bumper.
A little bit of water like a splash from a puddle will not destroy your engine. Hydrolock takes quite a bit of water from all the times I've seen engines destroyed because of it.
Anyways guys. I got this thing installed. I bet you can't imagine the grin on my face when I heard the sound from the intake.. Gotta love that whoosh sound it makes when it's sucking in air.
I relocated the coolant tank using an enclosed bracket and the factory mount where the airbox was connected to the car originally.. I wish I had my digital camera but it's in for repair so I can't take any pictures.

I do ask one thing of advice though. I let my car run but I can't go drive it around, so everything is running fine, but where do you remount the purge control valve? It sits on top of the intake tubing right near the throttle body and a single bolt holds it on. For the most part I just winged the installation but I read that this part is supposed to be relocated and mounted directly to the throttle body.. I'm stumped though. I've looked at pictures but I can't seem to find where it goes. So that one thing I do need help with to complete my installation. Anyone who's done an install please let me know.

Thanks.