i don't have a hole in the bottom of the intake...i wonder if there was one, would it mess up the air flow dynamics of the intake? probably? one other thing...i've read that the bypass valve does not work with the AEM V2. not sure why, though.

 

The bypass definitely doesn't work with the V2. Part of the reason is that they've set up a resonance chamber and the bypass valve would mess that up. Secondly, there really isn't a convenient place to put it, I guess.