Well,
There's only been about a zillion tests on K&N and, of all the dyno tests and actual tests I've read and seen, not one ever produced any additional HP or, fuel mileage to speak of. In the real world, the human factor can have way too many variables to be able to establish any form of true results. But, in labs, where there's controlled environments, dynamometers test things in EXACT SAME conditions, from test to test to test.
And, the big name auto mags have done quite a few run-ups on those and the only real difference is the fact that you can re-use one. Now, if you feel that the cleaning (which can take quite a bit of effort) and the re-oiling (which is an added cost) is worth your effort, then by all means, enjoy. But, the stock filters, usually specked out under pretty close tolerances by the engine manufacturers, are pretty tough to beat and, you just use them, and throw them away for new ones.
Scott