right, I have had a look into this.
I assume this is roughly the same:
In which case, the K+N is in the correct place. The bottom of the 'old' air filter no longer serves any purpose. It could be completely removed. However, they are a pain to get back in if you ever wanted to go back to the standard air box.
Therefore, I think it is fine. Everything is in place that should be (throttle body e.t.c).
The only thing I would say is to investigate a heat shield for it. Being that close to the hot engine will mean that it will be sucking hot air in which = loss of power.
Possibly get some cold air ducts in there. Just zip tie some flexy tube to the lower front grill and zip tie the other end facing the K+N. A limited solution compared to the heat shield though.
Heat shield examples:
http://www.injen.com/webpages/intake...ra/is1471p.jpg