This all depends on which chrome filter you're talking about. If it's one of those cheap ones on ebay that is just a tube with a filter that stays near the engine, then that is NOT a CAI since it's pulling in HOT engine compartment air. I guess you could call it an HAI. The K&N, or other similar brands, is isolated from the engine compartment and pulls in OUTSIDE air, which is why it's called a CAI. The cheapo filter might give you better response due to having less restriction, but sucking in hot engine air is detrimental to achieving an optimum fuel combustion. The colder the air/fuel mix going into the engine, the better for performance.
The cheap intake will give on one hand, and take away from the other.

 

Is there something cheaper than SLP/K&N that you would recommend then? I was planning on just going with the Ebay chrome one too, but if there's a better option for a similar price, I'd probably go for it.