Cold air or Ram air?

I have my 93 3.4 liter SE. I was just wondering if a cold air intake away from the engine (to the lower part of the engine) would be overall better or would a Ram air intake through the hood with a hood scoop be better. And also how does that ram air work with rain and water through the scoop.

Most quality ram air hoods will have a water seperator built into the air box. If you drive it on a daily basis I would go ram air that way you won't run the risk of sucking up water by hitting a puddle or something like that.