Well with stock E7 heads and nothing but my mods listed below would bolting on a cobra intake really make much of a difference that would be worth the trouble of staying at work a couple hours late?
It will help and you may notice a difference in midrange power. The airflow on the intake makes those E7 heads not work to full potential. The E7's are not a good head to begin with but the larger intake will make a difference in power. Maybe 10hp. You could just get a eddy performer II and hold on to it till you get the funds together for alum. heads.
Definitaly worth it. You could always get it ported when and if you do heads. A ported cobra will do just as good a job, if not better, then edelbrock or trick flow pieces.