No.
A cold air intake, and full header-back exhaust with a low restriction cat will add at most 10hp on your N/A 150hp Corolla.
Your drop in air filter will improve performance.... if your current air filter is dirty.
Disagreement with the above statement is either ignorance or denial... nothing else.
A friend from my 6th generation celica forum (1994-1999) has a 2.2L 5SFE engine that he added a CAI, full header-back exhaust, and upgraded the camshafts with a 294 regrind.... with all that done he saw a 20hp peak gain at the wheels.
If your car had say..... 400hp, and the intake was what was restricting it, then an air filter change might at 5hp, and a CAI might add 15hp.
In your current state, if you want to throw your money away.... be my guest.
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