I used to race dirt bike enduros back in the day when the bikes were delivered with paper filter elements. I saw first hand how quickly a paper filter would plug up and dramatically degrade performance and how much dirt would actually get past them. I have been using either oiled foam or oiled cotton filters since the early 80's in all my vehicles.
I do it mainly because the work better and in the long run they are cheaper, never really noticed any power gains. $40 bucks once verse $10/yr for a paper filter it only takes 2-3 years to start seeing the savings and I typically keep my vehicles for 10 years or so.
FWIW, The Barracuda is using a 14" round two density oiled foam filter from Accel. It's been on the car since I put the car back on the road in 2000 and is cleaned and re-oiled twice a year.
