Just got a 996 GT3, 2004. Have used Fabspeed before, good stuff. Has anyone tried their Air Intake System for the GT3 996? And, did you use the BMC filter. He said it would make more HP.

I would guess that hp increase using the bmc in the stock intake vs the aftermarket one would be negligible at best. Would you feel it ? doubtful, imo

what worried me about the air filter out in the open the way it was shown on fabspeed's site..is the potential for hydrolock in the rain...that wasn't addressed when it was brought up in previous threads so I balked...

My thoughts exactly.

I installed a BMC filter--- the Fabspeed setup doesn't seem like it could offer any improvement. Sometimes changing parts just for the sake of change isn't always beneficial.

At least w/the stock set up your intake is ingesting cold outside air. From the looks of their setup that does not seem to be the case. If you are going to change anything maybe a K&N or BMC filter replacement might be the ticket.
FYI for comparison, dyno'd my GT3 w/K&N vs. no filter at all. Actually lost 3 hp w/o any filter!

What is Hydrolock and what will happen in the rain?

When water gets into the cylinders compression stops.