So I've got an Amsoil drop in filter on the way and soon I will be ordering the Airaid MIT. Is the Power Wire just snake oil or does it really provide appreciable gains?

IF, u need yer fuel/air mixture richened up, it will do that. On mine, there is a 1 mpg difference in fuel used.

I never noticed a difference in gas mileage but I did take it off at the track one time. I think I ran a 14.6 then took it off and ran a 14.7 and then put it back on and was running 14.6s again. It could have been anything though. It's not like my truck can run a consistent time everytime but now with my intake I need it because my stock wire doesn't reach.

I would think its main purpose is to fool the IAC and MAF into believing the incoming air is colder than what it really is, there for dumping more fuel. Tuning without a tuner.... I didnt see anyone else post a possible explanation...if Im wrong, by all means lemmie know.

That's exactly what it does. It tricks the computer thinking the air is cooler than it is so your comp adds fuel to richen up the mixture.