ok so from what I gather .....
1. it will help if you are often in deeper mud/water that might be deep enough to get sucked in the OEM airbox but not likely enough to damage your electrical items.
2. It may help you get out of an extreme situation in a pinch but you might have to sacrifice some electrical items.
3. It isn't really for long periods of deep water fording, at least for our platform.
I did a little more reading and it looks like most snorkel kits have some kind of drain in the air box to allow the rain water to run out.