I would LOVE to the AEV Snorkel in a heart beat... if it were priced reasonably.
It is like $500 for the open "Ram" air inlet, and an additional $150 or so for the nice Industrial "Pre Filter" Mushroom type of intake tip. So that is about $700 out the door for parts, and I am sure close to another $700 to have a good body shop install it, so the total cost rapidly approaches about $1500.oo !!!
That buys a whole lot of air filters! Sure it looks sweet. But, I think if anyone really submerged their truck to the depth that the 'water proof' intake capability were to actually be put to the test, they would have a lot more serious issues to consider... like all of their drive fluids, electronics, interior, etc.
And this comes from a guy who loves to play submarine with his vehicles... so, sadly I just don't see one in my future.
*I don't think Corvette427 mentioned what it cost him for 'professional installation' over in his Snorkel thread.