If we assume all naked filter swaps are similar in performance and you throw that out the window, it comes down to style. The upper cover on the Cobra is the reason I bought it over V&H or other choices on SSCC, it covers up the unsightly guts of the case with a bracket that matches the bike.
if you have forward controls I bet it will still hit your knee. I just got used to it, doesn't really bother me and I don't grip that hard with my legs.
It does have a gnarly hiss to it, just get louder pipes to cover it up
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Odd thing about mine, it lost the red tint almost immediately after install. I assume that means I need to clean and re-oil it which I haven't gotten around to yet but I would assume it would last a little longer from the factory.