The baffle removal looks fantastic! That's a nice job. As for the "Y", that's really nice looking, too. It's amazing what you can find at Home Depot or Lowes!
After closer inspection, I am led to believe the "holes" are to allow any water collected by the intake to drain out. Even old carburetor air cleaner assemblies had an outer ring that sat lower than the filter element and the ring had holes to allow water to drain out without soaking the filter.
Good job, guys.
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