I've had the same cold air setup as you from densecharger. That cover plate is not for looks believe me. You need to mount that cover plate with the 3 holes and use the 2 screws to hold the fenderwell pipe to the maf to fenderwell plate. It keeps everything stationary.
I didn't mount the cover plate and my fenderwell pipe kept coming undone. Also I eventually beat the k&n air filter to the amount the air filter is not usable anymore.
You'll save yourself a new air filter by doing it, and problems with the cold air coming undone.
Josh