sound is the biggest gain, but without software it may just slow you down.
I will save my $$, BMW has done an exceptional job with the stock air system, and I have been down the air intake road before...
My old jetta vr6 sounded great with K&N system and heat shield.
But it was slower, it was not until the software that the gains showed.
Then a bigger throttle body, to actually take advantage of more air, then it got even better.
But technically, if you let more air in, you have to let more air out also..... or the gain is minimal.
My buddy's 330ci, he did exhaust and cold air intake at the same time, so it showed a nice difference
If you are not ready to invest in software, this will be a purely 'sound cool' upgrade.