I have not been able to find a real CAI for my 318i that replaces the Air Flow Meter and eliminates that little flapper valve that is the main restriction in the intake.  So in the mean time after performing the famous "de-baffle",  I found at the hardware a piece of A/C conduit that was the same size as the hole left in the air box.  I put one screw in it to hold it and twisted it around the edge of the radiator and it now draws air unrestricted from the same place the OE snorkel was.  Now, however, it is 4' inches free flow into the air box.  Not to bad for $4.  I have a couple of pics, I'll try to crop them down to size.  I'm kinda new at the picture posting part.

I'm very pleased with it.  When I first took the baffle out and left the hole open it created some resonance that didn't sound just right.  Plus I was pulling air from next to the radiator.  After I put the little extension in the odd noise went away.  It feels a little more powerful at the top end also.
Thanks for the comments.

I'm sure it is more noticable in an E30 with the lower weight, but is did wake up on the top side.  I just hope to be able to find a intake system with different style air flow meter and get rid of that little flapper deal.  Then I should really notice a change.

I've thought about.  I was focusing on my suspension stuff that I just fininshed.  I had a Ford truck that I did a MAF conversion on.  It was a great improvement.  But it made tuning more difficult and then I was married to 93 octane.  And most of the chips for my car have the same requirement.  I'm being a little cheap.  And I am a little skeptical of the real gain and how noticeable it will be. 

I would not discount Dinan tuning.  Is his E36 a 6 cyl?

I spent the money and bought the initial Dinan chip upgrade and it makes a great difference. The main thing was quicker throttle response and removing the limiter. I will be doing some more mods this winter. i had planned to do them this summer, but the house projects are bleeding my fun money.

Dport,
          It would depend on what you were after. I actuall get better gas mileage, when I stay out of it, than I did previously. For my first upgrade I thought it was a good decision. The important thing is too look at what you are trying to accomplish and spend the money in that direction. Sic rims rarely make a car faster, but they help the appearance. It is all in what we are trying to do, not what other think we should ahve done.

Dport,

Yes, I've read about that trick.  I'll probably stay with what I have until I can find a system that gets rid of that little flap valve and really opens up the intake.