Throw it away and get any other brand... I have a C&L it causes issues like not reading correctly. Are you planning on running the Factory Airbox? Cuz if you run any other "CAI" even though its tuned for a "CAI" it will cause a higher reading at idle and crusing. Aftermarket CAI like my BBK have mandrel bent tubing and this causes a higher velocity in the air stream which in turn causes the C&L meter to read high. Trust me i went through this already, I talked to C&L and a number of shops about this issue. SO do yourself a favor im going to get a Pro M.
Ok you may need to lower your fuel pressure some. First get the thing together and see how she does, mine was running slightly rich due to the fact that the CAI tube produces a higher intake velocity which causes the maf to read as if there is more air than the engine is actually ingesting. Lowering the fuel pressure by 1 lbs evened mine out for driveability, i have an a/f gauge to keep an eye on what its doing.
But that was the case with mine. you may not have the same issue i had. If you want everything to really work together well you can send the unit with your sensor installed and your CAI to C&L for $25 they will get you the proper sample tube installed. What they do is set the housing up with YOUR CAI and sensor then they "dyno" the setup and cut you a new tube that calibrates the entire unit to your injector size.
It is a hassle but if you already have the C&L this will get it all working properly.