Bad-mouthing WaterWetter, K&N, and Amsoil?? Gosh, having used those products for a few years I guess I got sucked in :-(
Pure demineralized water is the best engine coolant BUT tends to corrode the plumbing and freeze up at lower temps. Adding anti-corrosion/anti-freeze mixtures to water will address those problems BUT as you dilute pure water, you diminish it's superior heat transfer properties. I've found that, for summer track and performance driving, a 20% anti-freeze to 80% water mixture will keep temperatures down while protecting the cooling system (my mechanic can't believe how clean it is). WaterWetter claims to chemically improve the heat transfer of even water and, at $10/bottle, I've used it for several years as cheap insurance. After reading several threads complaining about high engine temps of the M119 motor, all I can say is I don't have that problem.
K&N filters flow more air through the filter medium compared with the factory filters. Whether you've done all the right things to turn more air into more power is another question. Increasing air intake volume, fuel and exhaust flow are required before you'll see more power, in most cases.
What's wrong with Amsoil? Its a well-known tuner's preference, not quite up there with Red Line but certainly the equal of WalMart brands like Mobil, Castrol, etc.
Yours in speed
"Lead, follow, or better yet, get out of the way!"E500 owners motto