Are they worth the extra money? I say yes, because to really have a quality filter, you'll either pay the AEM price, the K&N price, and if you're really loaded, then an HKS Megafilter price.
The fact that all you really have to do is rinse it out/off and let dry really works for me. I don't like having to oil filters, it bothers me for some reason.
You should get one. I'm at a higher altitude since my move, but my car doesn't seem to mind the thinner air, and I can probably attribute some of that to the filter itself.