The general opioion seems to be a panel filter is best up to 400bhp,after that cone induction is better.
Ive seen quite a few probs with the cone induction getting wet and causing issues.
So unless you really love the noise that induction provides id stick with a panel filter.
One of the best free flowing panel filters around is the JR filter.
It gave me 2bhp more on my old car over standard one...not a great deal,but as Tesco's say...every little helps....