I used to own a DynoJet chassis dyno, and sold K&N Filters. I know that on most vehicles (I only tested cars) the K&N did make power, from 1-2 hp to 6-8. ON one dirt track car, we made almost 10 hp over a clean stock filter. But this is ONLY at wide open throttle. At anything less than that, you don't flow enough air to tax a good, reasonably clean stock filter.
As for MPG, I don't agree with K&N, they do NOT make any more MPG, because you care about that at very little throttle opening, and as stated above, not enough air is flowing to use the K&N's flow advantage.
I Have also done white glove tests on bikes and cars that I have put K&N filters on, and never found any dirt past the filter. I have also done oil analysis. Any air filter that lets dirt through in any significant amount will show up immediately in oil analysis as increased silicon (basically sand from the highway/dirt etc) will be easy to spot. The only time I found the slicon number going up, I was able to catch that my aftermarket cone K&N filter had been rubbing up against a bracket, not the filters fault, MY fault. A hole had rubbed in (very small) and the silicon numbers went way up. A bit of Silicone sealant solved the problem, I still run that filter years later!
If you don't care about that maybe 1-2 hp at WOT, and you don't plan on keeping the vehicle for 100,000 miles or so, then the stock filter will probably be the way to go. K&N is a good filter, has one advantage, and no real disadvantage other than cost, and cleaning it isn't any big deal, the kit is about $10 and will clean the filter 5-10 times.