Actually, if you lose hp because of intake temps you also lose torque which means your car has to work a little harder and therefore use more gas. On a dyno I saw a PT GT lose 19 lbs/ft of torque with an open heat sucking intake.
Sorry CREWZIN, but that tips for better mpg just lost all credibility with me when they said a cold air intake will give you an easy 5-10 more mpg.

If that was really the case then all manufacturers would be using them to dramtically raise mpg on their whole fleet. Funny though, how they all use a closed system to keep hot engine air out of the intake.