no there are two holes, one for the resinator that goes down into it and the other that goes straight out into the fender in the same direction you air filter is facing. take your filter cover off and you'll see what im talkin about.
anther thing that people do is cut teh factory air box at the beginning so that your whole filter is showing. i haven't done this so i don't know if you can see a difference or not but there are other things you can do too like put pvc over the filter leading into the fender and get actual cold air from outside the engine compartment and blocks the hot engine air.