Welcome! So an Air cleaner design is not the same as a fuel delivery solution
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If you have a cowl hood, I would recommend completing the setup with the correct air cleaner. But swapping Air cleaners will help not help engine breathe better then the open element you have now.
Now if you switched to a carb replacement fuel injection (Holley sniper, FItech, etc), then the driveabilty of the engine will improve. Better fuel management will help your engine work to its best performance.
But... if the cam and heads are slugs, then better fuel management will only go so far.
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All tough decisions based on size of wallet vs how many mods you want to do.