It's really a question of what your time is worth.
I love my S&B, but that's for a 4th Gen. There was no way I had the time to go plumbing my own CAI when straight out of the box the install took all of 30 mins. I also don't have a garage so fabricating things takes on a whole new level of complexity.
You can easily buy the coupling for the TB, some PVC drain piping and a pretty good off-the-shelf filter element. The challenge is how to get cold air? Just sucking on the engine bay wont do that, although a better flowing filter and pipe without all the OEM ridges in the pipe will probably flow better. Either you have to kit-bash your OEM filter box or take it out to use its fender suction, but getting rid of the ole Hemi Hat has got to be an improvement regardless--that thing is all about noise suppression and ease of assembly, not performance.
If its just a project you're looking for, have fun with it.