^ive ran a CAI for 2 years with no problems. I live in maryland; It rains, snows, ices, etc. Just last week it rained for 4 days (no lie) straight and I had zero issues. Ive been on 3 and 4 lane highways while it was pouring down rain with no problems. Ive hit puddles (i always try not too) and had zero issues. You'll be fine man.
For a 2 inch drop your gonna need new shocks, front and rear; max for the OEM shocks is 1.5"; which is what ive been running the past year and have no problems.
2004 SVT: bewst'd!
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2013 Escape SEL 2.0 Ecoboost 4WD
2004 F350 6.8L V10 4x4
1986 XR4Ti 2.3L Turbo, 15 psi