i have a 07 chrysler 300 and am searching the market for a cold air intake for my 3.5 liter v6. is there any differance from a cheap L3 racing (40-60 dollar) one opposed 2 a $300 k&n intake?

neither of those intakes are going to do anything for you. afe stage 2 cai is the only one that will give you any gains.

You are paying partially for the name with the k&n kit. Although they make great filters you can get the same air flow from the cheaper model. The main idea is that you want to bring better cooler air flow, this will give you better performance. I have even made my own using abs plastic pipe to build the template then get speedy or Midas to bend stainless or aluminum pipe to your template, then get a filter and gear clamp from your local parts store. I have made them for a 4.6 in a Dakota and for a hemi in a full size truck. Definitely makes a difference