[El Guaco Taco]

So I have a K&N Cold Air intake I installed into my 01 Taco. I've been hearing a variety of responses saying that they are not good, they mess with all your sensors due to oil, or that they suck in dust and your check engine light comes on.. or that if you go through a small puddle you may easily hydrolock your engine. Has anyone had long experience with K&N or anyone know alot that could help me out? Appreciate it.