The Jannetty Racing comparison is great, but Vararam was not included in that test because their new unit (the "super street") was not out yet. I heard they were having problems with their original design which they discovered was the result of different styles of MAF sensor factory installed on the Camaros (they mention this on their website).
I have installed the Vararam on my Camaro and just got through the break in period. I must say that I like it. It looks good, it sounds better and the seat of the pants felt a slight improvement. The install was kind of a pain in comparisons to some of the other units, but overall not that bad.
I bought it because they've been around the LS motors for a while and do lots of work with corvettes. I've had no problems with it sucking up water. If you think about it, the only way you should get water there is with really heavy rain or a by washing it. I've driven it in rain and washed (spraying the hose right on the grille) with no issue.
I noticed the same thing about few people on this site having them installed, but when google searching for some installation questions I found that lots of people on "the other forum" have installed them with overall positive reviews.
2011 Synergy Green Metallic 1SS Camaro:
RS Package, White Ralley Stripes, Premium Sound.
Mods; Flowmaster Exhaust, Vararam CAI, Pfadt Sport Suspension, Budnik "Ice" Wheels, Nitto Invo tires
Upcoming Mods; Custom grill and badging.